==================================

U.S. stocks closed out 2025 with the Dow down 0.63%, marking the eighth consecutive month of gains, with an annual increase of 12.97%; the S&P 500 index fell 0.74%, up 16.39% for the year; the Nasdaq declined 0.76%, up 20.36% for the year, with the three major indices reaching new highs for three consecutive years. Technology stocks all closed lower, with Oracle(ORCL.N) down 1.1%, Tesla(TSLA.O) down nearly 1.04%, and Nvidia(NVDA.O) down 0.55%. According to CME “FedWatch”: the probability of the Federal Reserve cutting interest rates by 25 basis points in January is 14.9%, with an 85.1% chance of holding rates steady. By March, the probability of a 25 basis point cut rises to 51.7%, with a 42.5% chance of no change, and a 5.9% chance of a 50 basis point cut. We at Yibo will continue to monitor key signals such as the implementation of Fed policies, institutional fund flows, and on-chain data changes, providing real-time updates on layout strategies and target dynamics.

==================================

💎

💎
==================================

The cryptocurrency market in 2025 experienced intense bull-bear shifts, with opportunities and challenges coexisting. Reflecting on the year's trends and analyzing the current landscape are crucial for grasping future directions. In the first half of 2025, Bitcoin and Ethereum surged together, hitting new all-time highs successively. Market sentiment was high, capital flowed in, profit-taking effects were prominent, and various sub-sectors were active. By year-end, the market sharply reversed, returning to a bear market. Bitcoin stabilized around the 80,000 level, while Ethereum retraced to around 2,600. The weakening of these two leading assets triggered market adjustments, with significant profit-taking and a shift from euphoria to cautious panic. Currently, the market is in a range-bound oscillation, which serves both as a test of the residual momentum from the previous bull run—digesting trapped and profit-taking positions, and testing support and resistance—and as a buildup for a new bull market, with market reallocation and structural reshaping underway.

==================================

💎

💎
==================================

In the short term, the market remains in a testing phase with an unclear trend, but the major correction pattern persists. Technically, multiple attempts to break through the mid-line resistance have failed, opening downside space. The bearish trend remains strong, and short-term declines are possible, with oscillating downward movement as the main rhythm. The current environment presents significant challenges for participants, with increased volatility and uncertainty raising operational difficulty. At this stage, blindly chasing gains or cutting losses is not advisable; rational observation, focusing on core targets, and risk control are the optimal strategies. The crypto market in 2025 has completed a prelude to the bull-bear switch, and the current oscillation is a continuation and deepening of this process. The short-term bearish decline will likely persist, but oscillation also serves as a buildup phase. After the shift in bullish and bearish forces, a new trend cycle will begin, and investors should carefully analyze the market fundamentals to seize opportunities.