[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"news-aggregator-in-brief-12h-6269533":3},{"id":4,"timestamp":5,"title":6,"content":7,"link":8,"preview":9,"tags":10,"predictedTags":11,"showTags":12,"source":13,"reactions":14,"selfReactions":15,"logo":16,"sourceId":17,"sourceUserId":18,"asset":19,"tagsCategories":20,"totalComments":21,"lang":22,"unique_views_count":21,"enrichStatus":23,"triageKind":24,"triageImportance":25,"expandEligible":26,"summarizeEligible":26,"eventEligible":26,"eventType":27,"eventAction":27},"in-brief-12h-6269533","1792368501751","Toscale Digest: BTC MVRV Slump, ETH Liquidations & China GDP (12h)","\u003Cp>Bitcoin’s market value to realized value ratio has compressed below its 30th percentile following a rejection at $87K, signaling a potential accumulation phase despite cooling ETF demand and long-term holder distribution. \u003Ca href=\"https://toscale.io/\" target=\"_blank\">Toscale\u003C/a> tracks these on-chain metrics as Ethereum faces a heavy liquidation wave where longs absorbed $106.9 million of the $272.6 million total forced closures.\u003C/p>\u003Cp>Regulatory momentum continues to build in the U.S. as \u003Ca href=\"https://toscale.io/news-aggregator/bitcoins-mvrv-drops-below-30th1701a1513c-e1a4-7d80-be58-8a70b2f44116\" target=\"_blank\">SEC Chairman Paul Atkins\u003C/a> advances digital asset oversight via the SEC despite legislative setbacks with the CLARITY Act. Concurrently, the \u003Ca href=\"https://toscale.io/news-aggregator/cftc-proposes-federal-oversigh1701a150db-b14c-789f-bf80-c6ed3987e734\" target=\"_blank\">CFTC has proposed a federal oversight framework\u003C/a> for U.S. exchanges, creating a new \"crypto asset market\" registration category to bring clarity to the sector.\u003C/p>\u003Cp>In macro data, New Zealand’s Business NZ PSI came in at 50.9 against a forecast of 50.0, while the Trade Balance showed a wider deficit than expected. Attention now shifts to China’s Q3 GDP release, where forecasts call for 1.1% QoQ growth and 4.4% YoY expansion, alongside Industrial Production and Retail Sales data that could influence global risk appetite.\u003C/p>\u003Cp>Calendar — past:\u003C/p>\u003Cp>\u003Ca href=\"https://toscale.io/economic-calendar?q=Business+NZ+PSI&range=week&event=fxst-701c636f-31d6-4d85-af26-df23b1cadcb5\" target=\"_blank\">Business NZ PSI\u003C/a> printed 50.9 vs 50 forecast, while \u003Ca href=\"https://toscale.io/economic-calendar?q=Trade+Balance&range=week&event=wscn-1595641\" target=\"_blank\">Trade Balance\u003C/a> widened to -19.71% vs -775M forecast.\u003C/p>\u003Cp>Calendar — ahead:\u003C/p>\u003Cp>\u003Ca href=\"https://toscale.io/economic-calendar?q=Gross+Domestic+Product+%28QoQ%29&range=week&event=fxst-a884bf0f-756e-47e6-9132-d5e9c964cad2\" target=\"_blank\">China GDP QoQ\u003C/a> forecasts 1.1% vs 0.9% prev; \u003Ca href=\"https://toscale.io/economic-calendar?q=Gross+Domestic+Product+%28YoY%29&range=week&event=fxst-07cc3d1b-5831-497c-8dc4-9dece55dcd1f\" target=\"_blank\">China GDP YoY\u003C/a> expects 4.4% vs 4.3% prev.\u003C/p>\u003Cp>Market read:\u003C/p>\u003Cp>Bitcoin’s MVRV compression below the 30th percentile suggests weakening momentum, though the $87K rejection level remains a critical psychological barrier for bulls. Ethereum’s heavy long liquidations indicate leveraged fragility near $2,387, requiring sustained volume to prevent further downside. Regulatory developments from both the SEC and CFTC provide structural tailwinds but may not immediately offset macro uncertainty. Traders should monitor China’s GDP print for shifts in global liquidity expectations, as weaker-than-expected data could pressure risk assets. The upcoming ECB speech by Sleijpen adds another layer of scrutiny to European monetary policy stance.\u003C/p>","https://toscale.io/news-aggregator/in-brief-12h-6269533","https://toscale.io/images/default-news/3.webp","[\"In Brief\",\"12h\",\"Bitcoin\",\"Ethereum\",\"China GDP\",\"Regulation\"]","[\"Ethereum\",\"ETH\",\"ETH\",\"BTC\",\"Near\",\"Alongside\",\"PSI\",\"Market\",\"Phase\"]","[{\"img\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/coins-lib/full-library/color/ETH.png\",\"name\":\"ETH\"},{\"name\":\"BTC\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/blockchains/btc.png\"},{\"name\":\"Near\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/blockchains/near.png\"},{\"name\":\"Alongside\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/alongside.png\"},{\"name\":\"PSI\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/psi.png\"},{\"name\":\"Market\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/market.png\"},{\"name\":\"Phase\",\"logo\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/protocols/phase.png\"}]","533",[],[],"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/news-feeds/sources/toscale-digest.png","Toscale Digest",null,"","[\"Crypto\",\"In Brief\",\"Official\"]","0","EN","done","other",0,false,"none"]