GM December 11, 2025

1. Market Trends

BTC continues to decline, and altcoins are following with a full pullback.

The US stock market is rising, the US dollar is weak, but market sentiment has not been stimulated. Although the Federal Reserve cut interest rates by 25bp as expected, the market's expectation for rate cuts in the following two years has clearly cooled, only allowing for 'once in 2026, once in 2027,' basically telling everyone: policy easing may be reaching its end.

Long-term bond yields have soared to a new high in 16 years, and under these circumstances, liquidity is unlikely to truly ease, making it difficult for risk assets to break out of a real one-sided trend.

2. Market Hotspots

1) The OK new coin continues to stand out, with WET and NIGHT doubling in one day. WET is a DEX operated by the Sol chain, and NIGHT is a privacy chain created by the founder of ADA. Although there is heavy selling pressure, the rhythm of rallying remains strong.

2) The public chain SEI is rising, mainly due to its collaboration with Xiaomi, with pre-installed apps on phones generating anticipation.

3) ETH is also strengthening, with the ETH/BTC exchange rate rising, and mainstream funds are concentrating back on major public chains.