Last night, the encryption "Warm Breeze Blows", mainstream institutions showed goodwill, and the expectations for liquidity easing are gradually being realized.

On December 3rd, the crypto market welcomed a long-awaited strong rebound last night and this morning. As of the time of writing, mainstream currencies such as Bitcoin and Ethereum have recovered the ground lost during the “1201” big dump. Bitcoin briefly returned to $92,000, and Ethereum has returned to $3,000. On the news front, there was a flurry of favorable information for crypto last night: Vanguard, the world's second-largest asset management company, will allow investors to trade BlackRock's Bitcoin Spot ETF. This is the first time this asset management giant, known for its conservative investment philosophy, has opened a channel for crypto investment to its 8 million self-directed brokerage clients. In addition, Bank of America has recommended that interested investors allocate 1%-4% of their digital assets. Trump strongly hinted at a press conference that Hassett would succeed Powell as Chairman of the Fed, criticizing Powell again for needing to cut rates. As a result, the market has heavily bet that the crypto-friendly dove Hassett will take over as Chairman of the Fed. Yesterday, the Fed officially confirmed the end of quantitative tightening. Although some opinions suggest that the effects may not be seen until early next year, expectations for liquidity easing have gradually been realized. At the close of the U.S. stock market, the Nasdaq index rose by 0.59%, and the Dow Jones index rose by 0.39%. Bitcoin is warming up alongside tech stocks. In Japan, the stability of the Japanese bond auction has effectively alleviated market fears of interest rate hikes.