1. This round is a bull run driven by ETH, with DAT+ETF in the US stock market being the Spot market maker. The price of BTC is the initial gear of capital confidence in ETH, but now MSTR's mNAV has shown a further decline, and we must seriously consider the possibility of a continuous fall. Additionally, Tether/Circle has also been downgraded in market ratings.

2. The monthly line of ETH did not close above 3060, but there is still a favorable factor of a rate cut in December that has not yet materialized. So if ETH rises again, consider continuing to short around this area, with a very tight stop loss and high ROI.

If it can stabilize at 3100, then we will consider whether there is a trend reversal based on the macro view.

3. Adding to the recent heated discussions about the tightening of domestic policies, further preventing domestic liquidity from escaping through stablecoins. For large amounts, consider withdrawing funds through Hong Kong licensed offline stores, or collaborating with certain major long-term traders.

4. Assets worth bottom fishing in a bear market $ASTER $HYPE $BNB $ONDO .
① BNB and ASTER are somewhat like the shares of the largest market maker; as long as the industry exists, it won't be bad. Among them, the airdrop of ASTER will affect the year-end performance, and the destruction on 12/5 will not bring in real buying volume. I will not evaluate the repurchase mechanism for now, after the deep washout of the bear market, the ROI will be relatively high. BNB is falling very slowly, and the monthly support is still quite far away.

②ONDO expects that in the future, if the US stock IPO can be linked with blockchain ICO (, for example, as a way out for small-cap stocks ), the US stock DAT and ETF will continue to have an accumulation cycle, with the possibility of new bull tracks.