In the early morning of December 1, 2025, the price of Bitcoin reached **82,150 USD**—this number not only set a new historical record but also seemed to carve a crack in the walls of the TradFi system.

**Three forces driving this price storm**

First, let's talk about the policy side. At 3 a.m., Federal Reserve Chairman Powell rarely mentioned in the meeting minutes the "feasibility study of incorporating digital assets into statutory reserve assets". This is the first time that regulatory agencies have publicly discussed such topics. The shift in policy signals has directly ignited market sentiment.

The funding situation is getting crazier. BlackRock's Ethereum ETF saw a net inflow of $4.7 billion in a single day, which led to an 80% surge in the entire Layer 2 ecosystem. DeFi leaders like UNI and AAVE have doubled in value within a week. Meanwhile, exchanges in Tokyo and London have simultaneously launched cryptocurrency spot ETFs, with institutional buying volume skyrocketing by 340% compared to last month—traditional capital is migrating on a large scale.

**What is smart money looking at?**

On-chain data reveals some interesting details: whale addresses are quietly accumulating tokens in the AI and DePIN sectors, with projects like RNDR and TAO clearly seeing increased buying. Conversely, the daily NFT trading volume in the Solana ecosystem has plummeted by 62%, indicating a clear sign of sector rotation.

**This is just the beginning**

As code begins to redefine value and algorithms challenge the central banks' right to mint currency—what we are experiencing is not just a simple bull market cycle, but a thought experiment about "what is money."

If one day, the global monetary system really anchors to a certain digital asset, will you be a rule-maker or a passive recipient? This question is worth serious consideration by every participant.