I plan to compile and report the daily indicator observations to help everyone grasp the overall trend. Currently, I'm monitoring a total of 32 indicators. I won't list them all here, as everyone has their own methods of judgment. However, I believe everyone can gain another perspective from mine to see how the overall trend might unfold. Today, a total of 32 indicators were observed: 9 were bullish, 10 were bearish, and 6 were uncertain. Among the key sell indicators, 1 was bullish, 4 were bearish, and 2 were uncertain. Key points to mention today: 1) The total stablecoin supply reached a record high of 309.57 billion coins. While continuous capital inflows don't necessarily indicate a continuation of the bull market, they are a very positive sign. 2) After halting balance sheet reduction on December 2nd, the Federal Reserve remained inactive for a while, but then injected massive liquidity into the market on December 9th. 3) Coinbase has maintained a positive premium for over 10 consecutive days, indicating continued active participation from institutions. A notable example today is the 0.4402% positive premium, which suggests something significant.

Why do retail investors feel that it's a bear market, yet Rhythm is pushing out more news every day? Because it's currently driven by institutional investors, which doesn't align with the four-year market cycle. Market trends don't shift according to retail investor preferences, and industry exploration is gradually unfolding.

⚡️You can now trade gold via Binance Futures! Binance launched its first traditional asset perpetual contract, XAU (spot gold), yesterday and created a new contract category, "TradFi Perps." It's expected that other traditional financial products, such as stocks, will be added in the future. Unlike cryptocurrencies, which trade 24/7, assets under TradeFi Perps (such as XAU) typically operate on a 24/5 trading model, with a one-hour maintenance period daily. The XAU index is primarily composed of three providers: Dxfeed, Massive, and Pyth.

Currently, funds in the cryptocurrency market can speculate on gold and US stocks, and in the future, they can even speculate on real estate. When will traditional funds be able to speculate on altcoins? Otherwise, who will pump up the price of my entire altcoin portfolio?

Coinbase's ecosystem development follows three main lines: 1. The core strategic line, including DeFi (e.g., $AERO and $MORPHO), prediction markets (e.g., $LMTS), derivatives (e.g., $AVNT), social networking (e.g., $ZORA, $TOWNS, $NOICE), and agent-related products (e.g., $BNKR, $MAMO, $BILLY); 2. The x402 line, including products such as $PAYAI, $DREAMS, $PING, $VIRTUAL; 3. The independent Virtuals line, the ACP economy, including products such as $VIRTUAL, $GAME, $LUNA, $AXR.

What's wrong with silver?

"What Will Happen in the Crypto Market After the December Rate Cut?" The Federal Reserve cut interest rates by 25 basis points as expected, seemingly settling the matter, but the market's "expectation game" continues. The direction of the crypto market doesn't depend on the rate cut itself, but rather on six key expectations: 1. Is this the beginning of a rate-cutting cycle, or a one-off move? If it's the start of a cycle, crypto's medium-term trend is stronger; If it's just a symbolic rate cut, the market will enter a period of consolidation. 2. How much room for rate cuts is there in 2026? As long as interest rate futures begin to price in more rate cuts, risk assets will strengthen again. 3. The direction of real interest rates (10-year TIPS): BTC's trend almost perfectly corresponds to real interest rates. Lower real interest rates → Strong medium-term trend for crypto; Rising real interest rates → Pressure remains. 4. Fiscal liquidity: Will TGA decline? TGA decline = Fiscal spending reinjecting money into the market → This is more effective than a 25bp rate cut in driving crypto trends. 5. ETF Fund Flows: Rate cuts are just the background; the real driver of the market is whether BTC/ETH ETFs continue to see net inflows. If ETFs continue to attract funds, the trend won't end due to "profit-taking." 6. Will a narrative emerge that can attract funds? Whether funds can achieve a healthy diffusion cycle from BTC → ETH → mainstream narratives (such as AI/L2/RWA), this will determine whether altcoins can start the next phase of the market and the height of the bull market. In short, rate cuts are not the end, but the beginning of a new round of expectations. What truly determines the direction of the crypto market is the interest rate path, liquidity changes, institutional fund flows, and sector rotation structure over the next 12 months.

The Federal Reserve's interest rate meeting at 3 AM saw a 25 basis point cut as expected, but this was within market expectations. The biggest positive factor wasn't the rate cut itself, but rather Powell's statement that further rate hikes were not an option for the Fed, and that a high level of bond purchases would commence. On the one hand, we don't need to worry about the worst-case scenario; on the other hand, bond purchases will significantly alleviate the market's liquidity crunch.

Ethereum (ETH) has significantly outperformed both Bitcoin (BTC) and Soldier (SOL), thanks to its commitment to decentralization and continuous technological iteration. While BTC and ETH can be readily absorbed by Wall Street (holding significant stakes) from an asset perspective, from a technological standpoint, Ethereum truly embodies the various visions for future financial systems. Like the internet, although the US possesses the most root nodes globally, it wouldn't dare use this to coerce any country or region using the internet; doing so would be self-destructive.

Are the major oil-producing countries buying Bitcoin now? Like the Middle East and Russia, for example; they've been frequently releasing information expressing their optimism about Bitcoin lately. Using oil directly for power generation and cryptocurrency mining seems like a very reasonable strategic arrangement.