This recent market movement is really bizarre—this morning, Bitcoin surged to over 93,400, and Ethereum quickly followed up to 3,210. It then started to decline, and now both are bouncing back and forth around 92,600 and 3,160, respectively, in a "rapid rise and quick retreat" rhythm. Looking at the bigger picture, the overall market sentiment remains quite optimistic. The Federal Reserve is highly likely to cut interest rates at least twice this year, and this expectation has become a consensus in the market, making crypto assets a favored target for capital inflows. Recently, the introduction of new crypto tax regulations in 48 countries is actually a positive sign—once the rules are clear, institutional investors are more willing to participate, no longer guessing policy directions. Additionally, a major exchange's Bitcoin ETF saw nearly three months' largest net capital inflow last Friday, with incremental funds continuously pouring in, providing solid support for the upward trend. From a candlestick perspective, this pattern of rising sharply then pulling back with decreasing volume is quite clear—when prices surge, trading volume explodes, but when they turn around, the volume quickly shrinks, indicating this isn’t a dump but rather short-term traders cashing out profits. Ethereum is even more straightforward, simply dancing to Bitcoin’s rhythm. Key support and resistance levels to remember: Bitcoin faces resistance in the 93,000-93,300 range above, with a support floor at 92,100-91,800; Ethereum’s ceiling is around 3,210-3,190, with a floor at 3,140-3,120. If prices break below these, there are whole numbers below as support. No need to over-interpret in the short term. Rapid gains do require a pause, and a period of sideways consolidation may follow, with no major directional moves expected in the next few days. But you must understand that the logic of rate cuts remains intact, and institutional funds are still flowing in. These long-term factors haven’t been broken. Tonight’s US Manufacturing PMI data is crucial—if it falls below the 50 expansion-contraction line, it indicates economic weakening, and expectations for rate cuts will intensify, likely triggering another rally; if it rebounds unexpectedly, the market will probably see a slight correction.

In this market cycle, some investors entered the market with full positions between November 23 and 26. As of now, they have basically broken even. Out of the 6 tokens held, 5 have experienced gains, resulting in a hit rate of 83.3%. Looking at the specific performance, $BCH and $WLFI lead the gains, rising by 19.6% and 15.46% respectively. The strong performance of these two tokens has contributed most of the overall portfolio gains. In contrast, $ASTER is the only declining asset, with a drop of 53.54%. Investors have cut losses in time to prevent further losses. It should be noted that the ETH cost data mentioned here is based on the average cost after continuous accumulation during this period, not the single entry price. This kind of cost-averaging strategy is common in volatile markets and can effectively improve the overall cost structure. Judging from the fact that 5 tokens have risen, the timing and selection of tokens in this round have been quite good.