#数字资产动态追踪 ⚡ Two major changes unfold simultaneously, and the landscape will be rewritten by 2026

In the final days of the year, the global financial markets face a double impact:

First, 95-year-old Warren Buffett officially steps down as CEO of Berkshire Hathaway. The investment guru who once bluntly called Bitcoin "rat poison" has finally stepped back from the stage. A symbol of an era is being handed over.

Second, the Federal Reserve's latest forecast shatters market expectations. The room for rate cuts in 2026 is much smaller than anticipated—only a 25 basis point decrease is officially projected, meaning the benchmark interest rate will likely stay around 3.4% for the long term. That highly anticipated "liquidity feast" seems to be falling apart.

The anchor of the old order is loosening, and the new cycle's faucet has yet to open. Faced with a persistently high interest rate environment, trillions of dollars of global capital must reconsider their destinations—traditional stock and bond yields are being squeezed, and institutional investors are seeking new outlets.

This may be the turning point in the reshaping of asset paradigms. When the most stubborn opponents bow out and traditional financing channels are constrained by interest rate ceilings, where will the incremental capital flow?

It's worth pondering: Will sustained high interest rates accelerate institutional allocations to crypto assets? In this major shift, which factor—Buffett's generational transition or the Fed's policy shift—is the key variable determining the outlook for the crypto market before 2026?