Bitcoin Market Reacts to Short Liquidations
Bitcoin rebounded above 93,000 US dollars on Wednesday after a wave of liquidations cleared roughly 457 million US dollars of short positions in the past twenty four hours. The recovery followed Monday’s sharp drop below eighty four thousand US dollars which triggered nearly five hundred million in derivatives liquidations. Major altcoins including Solana Cardano and XRP surged more than twelve percent while Ethereum climbed back above three thousand US dollars.
Despite the bounce market depth remains uneven and traders remain cautious. The selloff earlier this week coincided with thin weekend liquidity macro risk aversion and concerns over balance sheet exposure related to strategy linked ETFs and the upcoming MSCI methodology review. These factors continue to weigh on broader risk appetite.
Regulatory signals offered some relief. US SEC Chair Paul Atkins said the agency will outline the framework for an “innovation exemption” for digital asset firms and Vanguard lifted its restrictions on trading crypto ETFs and mutual funds. Analysts note however that the rebound still resembles a relief move rather than a trend shift and the key test ahead is whether spot demand can sustain momentum once derivatives markets stabilize.
CNN Integrates Kalshi Prediction Markets into Newsroom Workflow
CNN has selected prediction market operator Kalshi as its official data partner integrating real time event probabilities across political cultural and economic topics into its newsroom and broadcast segments. The collaboration will introduce market implied odds into on air analysis supported by a rolling ticker displaying Kalshi’s live data.
The integration will be led by CNN’s chief data analyst Harry Enten who specializes in polling and probability based reporting. Kalshi confirmed that Enten will incorporate prediction market odds as an additional data point in assessing event likelihoods across election cycles policy debates and major cultural trends.
The agreement also grants CNN producers designers and editors full access to Kalshi’s real time feeds for building graphics contextualizing stories and tracking shifting expectations during the US political season. Kalshi recently completed a one billion dollar funding round pushing the valuation of its precision markets business to eleven billion US dollars signaling strong institutional demand for event driven data.
Bernstein Forecasts Significant Upside for Coinbase Stock
Bernstein reiterated its Street high price target of five hundred ten US dollars for Coinbase maintaining an “outperform” rating despite recent crypto market volatility. Analysts argue that the current drawdown differs from past bubble corrections since underlying business fundamentals remain strong and excessive speculation has been concentrated in “MSTR replicators” rather than across the entire sector.
The firm highlights Coinbase’s strategic shift from a spot trading heavy model toward a broader full stack financial platform. Stablecoins have become a meaningful income contributor while staking custody and token issuance are increasingly viewed as structural businesses rather than beta extensions. Bernstein notes that clearer US regulatory rules could unlock re-rating potential and narrow the historic advantage of offshore exchanges.
Upcoming catalysts include Coinbase’s December seventeenth product showcase which is expected to emphasize tokenized stocks prediction markets and other non spot verticals. Analysts also point to the strengthening derivatives cycle led by Deribit and Coinbase’s growing resemblance to multi product brokerages like Robinhood. The Base app which combines wallet payments social features and on chain access may serve as a key consumer gateway. Bernstein believes that even with short term sentiment pressured by crypto volatility Coinbase can expand through regulation new issuance and a broader product portfolio. At publication the stock traded at two hundred sixty nine dollars implying nearly ninety percent upside to the target.