#数字资产市场动态 These past couple of days have seen interesting market changes. At 7:56 PM Beijing time, the top ten cryptocurrencies showed a significant rebound in the past 24 hours—BTC up 0.42% to $87,854, ETH up 1.12% to $2,977, TRX up 1.17%, BNB slightly increased by 0.22%, with an overall average gain of 0.20%. Compared to the crash 11 hours ago (average decline of -2.3%), the market has moved out of extreme panic and shows clear signs of stabilization.

The Fear & Greed Index remains at 23 (extreme fear zone), but it has rebounded from the previous bottom of 16-24. More noteworthy is the capital movement in spot ETFs—$BTC spot ETF saw a net outflow of $19.29 million (219.52 BTC) on December 29, and $ETH ETF outflows of $9.63 million (3,250 ETH). Although still outflowing, the volume has significantly shrunk. Comparing to December 26 when BTC experienced a single-day outflow of $194 million, the selling pressure has clearly peaked.

There are no new negative macro factors. The market disagreements between Trump and Federal Reserve Chair Powell have already been digested, and the impact of the FOMC minutes is mostly reflected in prices. On the contrary, there is a potential positive—after the Chinese silver export ban takes effect on January 1, some funds might shift back from precious metals into the crypto market. Looking further ahead to 2026, the CLARITY Act, CFTC pilot projects, and FASB’s exploration of crypto accounting standards are all progressing, indicating a long-term bullish policy environment.

Core judgment: From the extreme panic bottom with an average -2.3% over the past 24 hours, the market is entering a mild recovery phase. The 1.12% lead of $ETH suggests a return of funds to Layer 1 and Layer 2 ecosystems. However, the Fear & Greed Index still remains at 23, indicating that a true reversal has not yet been established. This is not an ideal time for aggressive chasing or shorting. A smarter approach is to select assets with high liquidity, strong narratives, and confirmed technical signals, using moderate to low leverage to capitalize on oversold rebounds, while setting stop-losses to prepare for the possibility of a secondary dip.