Yesterday, I took care of the dog all day, and by evening I couldn't hold on anymore, so I went to bed early.

Crypto people are suitable for raising dogs. If you don't sleep, neither does the dog. Eventually, you'll also be able to sleep early.

At 3 a.m. Beijing time, the Federal Reserve's 2025 year-end meeting proceeded as scheduled, with a 25bps rate cut.

$BTC initially rose then fell, and the reason is actually very simple:
🌟 The dot plot shows expectations of only a 25bps cut in 2026 and 2027: below market expectations
🌟 Powell continues to "preach": watching labor market data
🌟 The Bank of Canada also paused rate cuts: market generally expects the global rate cut pace to slow down

Overall, the meeting was somewhat "dovish hawkish," no wonder the market quickly retreated; mainly short-term funds are betting on volatility.

However, I personally think the Federal Reserve is very good at expectation management, and some of it may not be genuine.

From now until the end of the New Year's holiday, about a month away, if the market can really dip again and shake out some positions, it would be a good thing—healthier than awkward oscillations with no clear direction.

On the capital side: ETF & Coinbase premiums have stabilized relatively
🌟 12/10 BTC ETF +$224 million net inflow
🌟 ETH ETF +$57.6 million net inflow
🌟 Coinbase Bitcoin premium index remains "slightly positive premium"

This indicates that despite less optimistic macro expectations, inflows have not stopped; at least European and American funds are not retreating.

If there's confusion, look at the market; the market is always right.

In 2025, whether good news or bad news, it will materialize.

Everyone has been waiting for this meeting. After it ends, market sentiment will also loosen significantly: those who should work will start working, TGE projects will begin, project teams will relaunch, and trading volume will gradually recover.

There are always opportunities in the crypto world. After resting for a month, I am also preparing to get back to work.