#数字资产市场动态 The last month of 2025, the market remains calm as ever.

The overall market volatility has been suppressed to very low levels, appearing unchanged. Recently, an on-chain perpetual contract platform called Light is about to launch. I briefly looked into the opening performance of its token LIT—typical new coin pattern, weakening right after listing. This is not surprising at all. It once again proves a reality: at this stage, the market’s view of clone projects is actually very harsh.

Retail investors’ mentality has become very fragile. Selling immediately after the opening has become the choice for most people. Frankly speaking, what’s needed now is not news, but confidence.

The price movement logic is very clear: it’s not following news, but swinging between value and sentiment. Value provides support points, while sentiment determines how much the price can fluctuate up and down.

From the actual situation, some projects are fundamentally solid, and their current prices are indeed below the value center. But they haven’t been severely undervalued yet. So my idea remains the same—hold onto the coins you have and don’t rush to bottom fish.

The time has come to mark the boundary between the old and new years.

In 2025, crypto assets haven’t been very favored. Especially in the recent period, funds are flowing elsewhere—silver and gold have performed well, and even the opportunities in A-shares this year are clearer than expected. But a year’s performance doesn’t tell the whole story. What’s truly interesting is to extend the timeline and see who can accompany you through the entire cycle.

Looking at the candlestick patterns, the entire market is still oscillating repeatedly, and trading opportunities are indeed limited.

However, there is a detail worth noting: a few altcoins I’ve been following recently completed a round of bottoming and rebound, and their current trend is relatively stable. If this sideways adjustment can persist while the market sentiment has not yet recovered, it could gradually weaken the previous straight-down decline, reserving opportunities for the next phase.

This stage is not suitable for storytelling. The current task is to observe market structure and wait quietly for trading signals.

The market rhythm has not yet been established, so the most valuable position management method is to stay patient.