The market situation at the end of the year is indeed a bit awkward. Americans are about to take a holiday, the stock market is closed, and large institutional funds have basically hit the pause button. This situation is expected to remain cold until after New Year's Day. Trading Volume? It's almost like there is none.

However, this Friday is worth paying attention to - the year-end settlement date has arrived, and there are still a large number of options contracts to be settled. For those institutions with heavy positions, most of the positions should have been handled quite a bit already, with some even rolling over to next year.

Since last week, signs have been apparent: Bitcoin surged to 90,000 only to drop back to 80,000, and this back-and-forth has happened 2-3 times already, with another instance last night. To put it bluntly, the U.S. market closure combined with year-end position adjustments has put the entire market in a tight spot. Bitcoin and Ethereum, these two old brothers, have had basically no significant movements this month, just as most people predicted — December is a grinding month. The forthcoming period is also likely to be no better, remaining in a semi-dead state, oscillating and stuck, with no clear sense of direction.