#美联储回购协议计划 Looking at the recent market situation, major institutions are indeed holding steady. The行情 of 1011 really made many people see the true state of the market—retail investors' chips have been almost washed out. Compared to the wave of capital inflows and the successive price increases in the first half of the year, the current incremental capital has clearly slowed down. What's more painful is that what we see is no longer the rhythm of explosive moves every couple of days. Cutting leeks has become completely unmasked—诱多,杀空,诱多,杀空, repeating back and forth, precisely harvesting. The爆仓 data from exchanges can illustrate the issue: there are precise strikes against retail long positions every day. Many people's small goal used to be turning 100,000 USD into 1 million USD, but now that dream is quite luxurious; most people just want to break even. 2025 is almost over, and I truly hope the new year will bring some opportunities to everyone. $BTC $ETH $SOL 's trend indeed warrants continued observation, especially as the reaction mode of the crypto market is changing under the influence of Federal Reserve policy expectations.