The last trading day of the year, the market is迎接2025年新周期 amid intense volatility. The actions of institutional investors are sending key signals.

From the holdings data, Bitmine has increased its ETH holdings by 32,938 ETH, a move worth approximately $97.6 million, indicating strong confidence in Ethereum. Meanwhile, a leading crypto fund has accumulated 2,000 Bitcoin, valued at about $177 million, with continuous buying showing that large funds remain optimistic about the long-term outlook. On the other hand, an investor supported by Beckham has announced the cessation of its accumulation plan, and Prenetics has maintained its current 510 Bitcoin without additional purchases—these seemingly contradictory actions reflect differing risk assessments among market participants.

Whale operations are frequent. An old BTC player is floating at a loss of up to $39 million, and shorts are targeting LIT aggressively. Another whale sold 3,000 ETH, recording a loss of $43,000. The difficulty of swing trading is evident.

On the macro front, the probability that the Federal Reserve will keep interest rates unchanged in January next year is 85.1%, with continued rate cuts supporting risk assets. Global stock markets are also experiencing their largest gains in six years, with about 94% of stocks remaining above the 200-day moving average. The upward trend of this long cycle continues.

CZ stated that, at the current pace, certain regions are expected to become leading countries in global cryptocurrency by 2030, and the industry’s growth remains hot. Elon Musk admitted that Tesla and SpaceX stocks almost constitute his entire wealth, reflecting tech giants’ tilt toward traditional assets.

It is worth noting that SlowMist’s annual security report shows that total security incidents this year resulted in losses of approximately $2.935 billion, and generative AI is becoming a tool for attacks. Protective strategies need to keep pace with evolving threats.

The current crypto fear index has risen to 32, and the market remains in a state of panic. During the year-end holiday, many institutional investors are choosing to exit and observe, but this period is also when market changes are most likely to occur. On the last trading day of 2025, the market waits for a new direction amid uncertainty.