On Friday (December 20), after Bitcoin plummeted to $96,000, it rebounded. Short sellers took control of the situation, and Blackrock, the Wall Street asset management giant managing $10 trillion globally, unusually issued a disclaimer stating that it cannot guarantee that the total supply of Bitcoin remains unchanged at 21 million, which sparked controversy in the Community. After the Federal Reserve's interest rate cut meeting gave hawkish signals, the once largest crypto Exchange Mt.Gox dumped $0.1025 billion worth of Bitcoin.

Blackrock: Cannot guarantee that the total supply of Bitcoin will remain at 21 million.

CoinTelegraph pointed out that after Blackrock released a 3-minute explanation video on Bitcoin and added a disclaimer stating that it cannot guarantee the supply cap of 21 million Bitcoin will not change, the debate about whether the total supply of Bitcoin is truly fixed resurfaced.

The fixed supply of Bitcoin is one of its strongest arguments as a store of value, and removing the supply cap would affect investors' views on Cryptos.

In the video on December 17, Blackrock explained that the fixed supply of Bitcoin is 21 million, adding that "hardcoded rules control the supply and purchasing power, and help avoid potential abuse of printing more currency." However, it also added a disclaimer: "It cannot guarantee that the supply cap of 21 million Bitcoin will not change."

Subsequently, the chairman of the largest listed whale MicroStrategy, Michael Saylor, forwarded the video, leading some critics to argue that Bitcoin is theoretically not scarce.

Dashpay's marketing and business development Director, Joel Valenzuela, claimed, "When the supply cap increases, it will always be part of the plan, and in 2024, people boldly say that Bitcoin has not been hijacked."

Anonymous Ethereum developer Antiprosynthesis added, "Blackrock understands Bitcoin better than Bitcoin holders."

The Bitcoin developers behind BitVM, Super Testnet, pointed out that whether the supply cap of Bitcoin can be changed depends on how people define 'Bitcoin.' Some say if several community members—from node operators and core developers to miners and investors—reach consensus through a hard fork by transferring to a new chain, then theoretically, the situation can be changed.

Developers may first propose a proposal to spark community discussion to understand consensus, and then implement the rule changes into the Bitcoin core. This would lead to a hard fork, and community members would need to decide which set of new rules they want to transition to. If the vast majority of node operators and miners start supporting the new fork and gain greater market share and hash rate, they will operate under a 'new' Bitcoin network with an unrestricted supply.

However, Super Testnet stated that although this is possible, the new chain that results will not be 'Bitcoin.' It emphasized that the 2019 Bitcoin white paper by 'Bitcoin's father' Satoshi Nakamoto pointed out, 'The inflation cap is definitive for Bitcoin. If this is eliminated, what you have is no longer Bitcoin; you might as well ask how to turn Bitcoin into PayPal.'

The former largest cryptocurrency Exchange reported a liquidation of 0.1025 billion dollars.

On Thursday, on-chain intelligence company Arkham Intelligence posted that Mt. Gox transferred Bitcoin worth 0.1025 billion dollars after the Federal Reserve's interest rate cut meeting. The post also noted that this enormous amount of Bitcoin was split into three separate transactions, sent to three different addresses, each transaction totaling 30.18 million dollars.

However, Arkham pointed out that the remaining Bitcoin is still held by Mt. Gox. These transactions from the defunct cryptocurrency Exchange seem to have a significant impact on the cryptocurrency market. Mt. Gox needs to distribute billions of dollars worth of Bitcoin to its creditors, which severely affects Bitcoin's price and the overall cryptocurrency market.

Current market sentiment appears to be extremely pessimistic, with traders and investors in panic due to billions of dollars in liquidations. According to on-chain analytics company Coinglass, the recent market crash resulted in the liquidation of long and short positions worth $1.18 billion.

Most of the liquidations came from long positions, with traders holding long positions worth $0.9 billion being liquidated. In comparison, the cryptocurrency market only saw $0.16 billion in short liquidations over the past 24 hours.

BitcoinTechnical analysis.

Economies.com states that Bitcoin is facing strong negative pressure, attacking the support line of the Call channel while trying to stay below it.

This encourages caution regarding upcoming trades, as a confirmed breakout will halt the Call wave and push the price into a Put correction, with the first target at $95,195.