#稳定币发展与应用 Seeing this wave of rebound in the crypto market at the start of the new year, I am reminded of a frequently overlooked detail.

Bitcoin rebounded from a low of $88,000 to $92,000. Many see this as an opportunity for gains, but I pay more attention to the structural changes behind it—rebalancing of institutional funds, capital inflows into spot ETFs, and the expansion of stablecoins linked to US bonds. These are not speculative signals but signs of market maturity.

What’s truly worth pondering is that the seemingly disappointing scenario of the 2025 "halving market not erupting as expected" actually reflects a healthier trend: emotional trading has significantly decreased, volatility is converging, and institutions are becoming the dominant market players. What does this mean? It indicates that we are transitioning from a "story-driven" phase to a "fundamentals-driven" phase.

For long-term holders, the short-term support level of $91,500 and the Q1 new all-time high expectations are technical references. But more importantly, ask yourself: Is your asset allocation resilient enough to withstand January’s volatility? Do you have enough exposure to safe tools like stablecoins?

The market’s resilience is strong, but resilience does not mean risk-free. I have always advised that during such rebounds, it’s even more important to carefully review your position structure. Protecting your safety margin is much smarter than chasing the height of the rebound.