Bcopen

#BTC

Any IP is a high-risk asset. Currently, BTC is in line with the trend of the times. Compared with ancient gold, BTC is more favored by the younger generation. Winning young people means winning the future. When the millennial generation gradually takes the center stage of the times, BTC will also usher in its moment of glory.

In the past 30 years, China's economy relied on the "three drivers" of net exports + investment:
- The cattle and horses (workers) work tirelessly 996 to produce cheap goods
- The foreign gentlemen (middle-class in Europe and America) go into debt for frenzied consumption
- The landlords (capital + powerful elite) take away the vast majority of profits
- The cattle and horses scrape by on the leftovers to maintain basic living standards, and everyone feels "happy all around".

Now the foreign gentlemen have reduced their leverage, consumption capacity has significantly decreased, and exports can't be boosted.
The authorities are shouting to "expand domestic demand," asking the cattle and horses to buy the things they produce themselves.
But the problem is: the cattle and horses' wages have hardly increased in 30 years, while housing prices have risen 10-20 times, and education, healthcare, and pensions are all out-of-pocket; where is the money for consumption?
Asking those without money to "expand domestic demand" essentially means letting the cattle and horses overdraw their future (borrow money to consume), or simply not consuming and facing dire consequences.

Thus, a real solution has emerged:
Since Europe and America no longer want so many cattle and horses, let’s export them to poorer places—
"Belt and Road Initiative," globalization 3.0, transferring production capacity to Southeast Asia, Africa, and Latin America.
Let China's cattle and horses become the "foreign gentlemen" of these countries, continuing to work for the landlords (Chinese capital) to earn money.
As for the remaining cattle and horses in the domestic market? Continue to be exploited or simply eliminated (lying flat, moving abroad, flexible employment).

You put it very bluntly:
This is not some "new quality productive force" or "common prosperity,"
This is nothing more than: when the tools are used up, replace them with cheaper tools and continue to extract value.

The next 10 years will likely unfold as you said:
1. Domestic consumption is unlikely to truly pick up (because the distribution structure does not change, the cattle and horses will never have money)
2. Exporting to stimulate domestic demand is a false proposition; the real direction is "exporting to stimulate external demand"—to export excess production capacity and excess cattle and horses to lower-tier countries
3. Do the cattle and horses want to "be human" (to have decent wages, welfare, and social mobility)? Impossible; your role is merely that of a tool, and tools have no bargaining rights. As it stands, this is indeed the optimal solution—for the landlords.
For the cattle and horses, it means "either continue to be cattle and horses, or be abandoned." They are just tasked with packaging this harsh reality into sophisticated-sounding terms like "dual circulation," "new quality productive forces," and "high-quality full employment."

The Last True Inheritor of Bitcoin's Scarcity

$ZEC $TAO $BSV $BCH

In a world filled with trillion-scale tokens and an endless inflationary 'ecosystem', only four cryptocurrencies dare to emulate Bitcoin's brutal economic model: exactly 21 million coins
Rewards are halved forever
> No pre-mining, no ICO, no excuses.

BCH → Effective Digital Gold

ZEC → Hidden Digital Gold

TAO → Thinking Digital Gold

BSV → Global Scale Digital Gold

Breaking! Is USDT exchange illegal?
In fact, everyone's daily capital inflow and outflow activities are consistent with the case below.
In October, the Beijing procuratorate published a typical financial prosecution case, where an illegal foreign exchange operation using USDT as a medium shocked the industry: the involved funds reached 11.82 billion yuan, and 5 defendants were sentenced to 2 to 4 years for illegal business operations.
The key value of this case is not just about the "huge amount"; it clearly defines the criminal boundary of "cross-border exchange of virtual currency" for the first time: the core of the judicial authority's judgment is never about whether "virtual currency is considered currency", but rather whether the behavior circumvents foreign exchange regulations to achieve illegal conversion between renminbi and foreign currencies.
For a long time, such behaviors have frequently operated in OTC circles and among cross-border capital demand groups under the disguise of "technical intermediaries" and "hidden transactions".
The actions of Lin and others are by no means a simple "buying and selling of USDT". From the perspective of capital flow, its essence is a complete financial attribute of a "substitutive cross-border payment system", specifically structured into four steps:
1. Starting point: Renminbi funds from the domestic demand side (transferred through personal bank accounts);
2. Conversion stage: Directly purchase USDT with renminbi on domestic virtual currency platforms (completing the "fiat currency to virtual currency" conversion);
3. Cross-border stage: Transfer USDT to overseas virtual currency platforms using cross-chain technology;
4. Endpoint: Exchange USDT for equivalent foreign currency on the overseas platform and transfer it to an overseas bank account.
This entire path completely circumvents the statutory foreign exchange regulatory system, avoiding the restrictions of "personal annual foreign exchange purchase limit of 50,000 USD", and has not gone through banks.
From a regulatory logic perspective, the technical form of virtual currency is irrelevant. As long as it is used for "currency exchange" or "cross-border capital transfer", the nature of the behavior reverts to the realm of "traditional financial activities" and must comply with statutory regulatory rules.
Virtual currency itself is not a risk; the transaction structure is the risk. As long as the structure touches the bottom line of "unauthorized cross-border exchange", regardless of whether the participants subjectively believe they are engaging in "virtual currency trading", the criminal risk will not be mitigated.

This Week's Power Dynamics 📈

$GAIX | +270%
👉Transformation and Airdrop

$DHN | +165%
👉Technological Breakthrough

$LUNC | +115%
👉Judgment in the U.S. Department of Justice's Case Against Duquan

$KEEP | +99%
👉Volatility Continues

$IXS | +62%
👉Verified RWA TVL is $88 million

This week, Bitcoin and altcoins performed strongly, with market sell-off pressure significantly easing and volatility tending to calm down.

Several projects launched major upgrades and ecosystem updates, re-attracting trading volume and traders' attention.

Market momentum is shifting, and investors are once again showing interest in areas outside of the largest market cap stocks.

However, a real shift may still be ahead.
The market has already begun to digest rate cut expectations, with the current probability of a rate cut exceeding 85%.

Once this situation becomes a reality, liquidity expansion could trigger the next phase of the bull market.
And this time, it is likely to be driven by altcoins.

Main points:
1. Since October 29, the tightening of liquidity has been the main reason for the collective decline of global risk assets. With the Federal Reserve pausing the balance sheet reduction on December 2 and the technical expansion about to begin, risk assets have recently rebounded.

2. Recently, the rebound in cryptocurrencies has been weaker than that of traditional risk assets such as U.S. stocks, mainly due to tighter regulations and market deleveraging that have weakened their liquidity and responsiveness to positive news. However, the irrational "overshooting" has not only increased risk but also opened up a precious window for identifying and allocating truly valuable assets.

3. The difference in implied volatility between MSTR one-year put options and call options has significantly narrowed from 13.9 on November 21 to 0.9 on December 5, indicating that traders are no longer betting on MSTR continuing to decline. At the same time, the "super whales" holding more than 10,000 units have shown a continuous net increase in holdings over the past two weeks, with the intensity of accumulation gradually increasing.

4. The current market is gradually entering a bottoming phase, and Bitcoin may fluctuate around the $80,000 range in the short term, but this area is expected to become an important long-term bottom; from a valuation perspective, many fundamentally sound quality tokens have already shown long-term allocation value.

Reddit's Ranking of Popular US Stocks (December 5), you can benchmark against East Money's Stock Bar, Retail Investor Sentiment Indicator:
1. $SPY (S&P 500 ETF), mentioned 417 times
2. $NVDA (NVIDIA), mentioned 261 times
3. $META (META), mentioned 157 times
4. $ASTS (AST SpaceMobile), mentioned 148 times
5. $AMZN (Amazon), mentioned 136 times
6. $TSLA (Tesla), mentioned 125 times
7. $NFLX (Netflix), mentioned 116 times
8. $SOFI (SoFi), mentioned 90 times
9. $WBD (Warner Bros), mentioned 90 times
10. $OKLO (Oklo), mentioned 90 times
11. $QQQ (NASDAQ 100 ETF), mentioned 83 times
12. $PATH (UiPath), mentioned 79 times
13. $DTE (DTE Energy), mentioned 75 times
14. $HOOD (Robinhood), mentioned 63 times
15. $RGTI (Rigetti Computing), mentioned 62 times
16. $GOOG (Google), mentioned 56 times
17. $IWM (Russell 2000 ETF), mentioned 55 times
18. $RKLB (Rocket Lab USA), mentioned 55 times
19. $MSTR (MicroStrategy), mentioned 52 times
20. $SGBX (SG Blocks), mentioned 50 times

During the market downturn, a "whale" invested 35.7 million dollars in 8 assets, including:

3,175 $ETH (10.13 million dollars)
557,937 $LINK (7.99 million dollars)
20.14 million $ENA (5.82 million dollars)
25,396 $AAVE (4.90 million dollars)
6.53 million $ONDO (3.27 million dollars)
340,849 $UNI (2.05 million dollars)
22.59 million $SKY (1.09 million dollars)
384,075 $LDO (244,000 dollars)

These assets have now been transferred to the on-chain wallet 0xBC64.

Have we returned to 2021?

Hot 🔥

$VET
$ONDO
$TEL
$SEI
$ASTER
$RIO

Top gainers in the last 24 hours 📈

$LUNC : +82%
$LUNA +42%
$KEEP +22%
$SYRUP +17%
$IXS +16%

The last 24 hours have been volatile, but key price levels remain strong.

Bitcoin price is still above $90,000.
Ethereum price is holding at the $3,000 level.

The market is expected to experience significant fluctuations around the Fed's interest rate decision, while before that, market momentum will dominate price movements.

$HGPT: HGPT announces a partnership with PundiAI.

$PAAL: PaaLLM 1.0 is now available for all Paal Pro users.
$MANA: The Decentraland music festival will officially launch in December 2025.
$SOL: Revolut has added Solana payment, transfer, and staking features for its over 65 million users.
$RUNE: THORChain releases protocol upgrade v3.14.0.

The potential of privacy cryptocurrencies 📈

𝘞𝘪𝘵𝘩 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵 𝘤𝘢𝘱 𝘰𝘧 $XMR

$ZEC ：1.34 times → 450 dollars

$DASH ：12 times → 595 dollars

$DCR ：22 times → 437 dollars

$ZK ：23 times → 0.82 dollars

$ZANO ：44 times → 500 dollars

$KEEP ：127X → 7.7 dollars

$ARRR ：128X → 437 dollars

$FIRO ：170 times → 417 dollars

What do you believe in the most?

👇

Not just Ethereum!
The entire ecosystem is about to benefit from the FUSAKA upgrade.
Top altcoins in the Ethereum ecosystem:
$ETH
$LINK
$UNI
$AAVE
$ENA
$ONDO
$VIRTUAL
$TEL
$LDO

He Yi shares three feelings about becoming Co-CEO:

1. Currently, there will not be much change in my work. I took over the HR department last year and hope to recruit the best talent for Binance.

2. As Co-CEO, I hope to build Binance into a lasting enterprise.

3. Regarding investment in the crypto space, Sister suggests retail investors to hold valuable top assets.

She advises: Do not trust anyone's so-called insider information on investments.

Why would you believe your friends or anyone else's insider tips are more reliable than your own research?

How can you be sure that this so-called 'insider' information is genuine?

Often, price increases are just the result of market sentiment being hyped rather than based on real information.

Therefore, Sister advises everyone not to waste their positions on worthless projects.

Tom Lee: The traditional four-year bull and bear cycle has become ineffective. Bitcoin is expected to reach new highs early next year, and we will soon see the results in the coming weeks.
At the same time, he believes that by the end of 2026, Bitcoin will reach 300,000 USD, and Ethereum will also experience an explosive rise at that time.
The above is from the Binance event week on-site.

The Dark Side of Token Unlocking

$SEI
• Price is about 6 times the historical high
• Market Cap is about 3 times the ATH

$RENDER
• Price is about 7 times the historical high
• Market Cap is about 6 times the ATH

$TAO
• Price has increased by more than 2 times compared to the historical high
• Market Cap is less than 2 times the ATH

$LINK
• Price is about 4 times the historical high
• Market Cap is about 2 times the ATH

Most people consider the price.
Experienced investors pay attention to market cap.

Because the real story of supply changes is hidden there.

Let me explain in the simplest way👇

Token unlocking does not lead to project failure.

They slow down the speed at which the price recovers to the historical high.

That's why market cap looks healthier than price.

Market cap includes all newly issued tokens.

Price does not.

So, if you are waiting for the “historical high to be reached again,” you first need to check how much supply has increased since the top.

Because every unlock makes the target of a “new ATH” further away.

That's why savvy investors pay attention to the following:

• Unlock schedule
• Circulating supply growth
• FDV vs MC
Team and investor dilemmas
• Future issuance speed

Engaging stories can make token prices soar.
The unlocking mechanism determines how high they can actually reach.

Yes, measures like buybacks and halving, like Bittensor, are viable, but the question is how quickly these measures can offset the impact of the current supply surge.

In the long run, the biggest winners are those tokens with controllable unlocks, real demand, and low issuance pressure.

Everything else… requires 2-5 times the effort to return to its previous state.

#长远规划
This year, part of the American "Big Beautiful Plan," the "Trump Account" program requires the U.S. Treasury to provide $1,000 investment accounts for children born in the U.S. between January 1, 2025, and January 1, 2029. We believe that if every child can see a future worth saving for, we will build not just accounts, but also hope, opportunity, and generational prosperity. The U.S. government's "Trump Account" program will launch on July 4, 2026, at which point any parent can open an account for their child and deposit up to $5,000 per year. The funds in the "Trump Account" will be invested in diversified, low-cost index funds to ensure that the money can share in the average market returns. These assets can grow tax-free within the account. Funds cannot be withdrawn until the child turns 18. After reaching adulthood, account holders can withdraw the money for designated purposes such as college education, down payments on homes, or startup costs.

The cryptocurrency market is bleak today 🟥

Bitcoin's price has plummeted from $90,000 to $86,000

Alts have followed this trend:

$XRP → $2
$SOL → $125
$TAO → $270
$LINK → $12.2
$ONDO → $0.46
$SUI → $1.37
$SEI → $0.12

Only when Bitcoin's price remains strong will they rebound:

First support: $84,900 (gold bag)
Second support: $83,200

This decline also means that the RSI/momentum indicator has immediately entered an oversold state.

The upward trend will only resume when the price returns to $94,000.

Market volatility has intensified ahead of the Federal Reserve's decision and Powell's speech.

Positive factors are needed.

The following long-term support level is at $76,000.

⚠️Major crypto hacks and vulnerabilities explained in 2 minutes👇

💠2011-2016

• 2011: Mt. Gox → Early BTC hot wallet vulnerability. ~450 million USD loss.

• 2016: DAO → Reentry error depleted funds. Loss of about 60 million USD.

💠 2018

• Coincheck Hack → Lazarus stole NEM. ~534 million USD.

• Bithumb Hack → Internal compromise. ~31 million USD.

💠 2019

•Binance Hot Wallet Hack → API + phishing vulnerability. ~40 million USD.

💠 2022

• Wormhole Bridge → Exploited signature flaw. ~325 million USD.

• Ronin Network → Lazarus's validator takeover. ~620 million USD.

• BNB Token Center → Extra BNB minted through bridge flaw. ~570 million USD.

• FTX Drainer → Private key theft during collapse. ~477 million USD.

💠 2023

• KyberSwap Elastic → Flash loan liquidity manipulation. ~50 million USD.

💠 2024

• WazirX → Multisig approver was scammed. ~235 million USD.

• DMM Bitcoin → Hot wallet key compromised. ~305 million USD.

💠2025 (January)

• Moby (Arbitrum) → Smart contract vulnerability. ~2.5 million USD.

• AdsPower → Wallet drained over a few days. ~4.7 million USD.

💠2025 (February)

• Bybit Cold Wallet Hack → Largest ever. ~1.5 billion USD.

💠2025 (May)

• Cetus Protocol (Sui) → Oracle manipulation. ~225 million USD.

💠2025 (July)

• CoinDCX → Server vulnerability. ~44 million USD.

• Coordinated CEX attack → Bybit, BigONE, CoinDCX hit. ~1.5 billion USD in total.

💠2025 (September)

• Yara Stablecoin Protocol → Unauthorized minting vulnerability. ~7.6 million USD.

💠2025 (November)

• Upbit (November 27) → Solana hot wallet vulnerability; SOL, USDC, BONK, JUP drained. ~36 million USD. Upbit froze about 8 million USD + committed to full user reimbursement.

The Fate of an Alternative Season🟩

Federal Reserve Chairman Jerome Powell will make important decisions before the end of the quantitative tightening (QT) policy on December 1.

$TAO @ 300 dollars
$ZANO @ 13 dollars
$QNT @ 100 dollars
$ONDO @ 0.50 dollars
$SEI @ 0.13 dollars

More importantly, the market capitalization of altcoins is currently at a potential rebound position.

Take a close look at this chart.

Q4 2023 → "Oh no, it’s over."
Q4 2024 → "Oh no, it’s over."
Q2 2025 → "Oh no, it’s over."

Each time, moments of panic turned into the best buying opportunities of the year.

This is not the first retest of the trend line, but the fourth, and it is still valid.

Each touch of the ball triggers subsequent large-scale counterattacks.

The market capitalization of altcoins rose from 400 billion dollars to 700 billion dollars, from 600 billion dollars to 1.1 trillion dollars, and then from 700 billion dollars to over 1.2 trillion dollars.

Now, as we approach Q4 2025, we are once again facing the same fears and the same situation.
But this time, the Fed's policy shift is also in alignment with it.

Liquidity returning + Long-term support levels holding steady = The perfect storm for the next round of altcoin market.

When panic reaches its peak, the market quietly prepares for the next wave.

The key is to take a favorable position before the cycle expands again.

When everyone is saying "it’s all over," I see the chart indicating "it’s just beginning."

🚨 2014 - Many missed $BTC
🚨 2015 - Many missed $LTC
🚨 2016 - Many missed $ETH
🚨 2017 - Many missed $XRP
🚨 2018 - Many missed $BNB
🚨 2019 - Many missed $LINK
🚨 2020 - Many missed $AAVE
🚨 2021 - Many missed $SOL
🚨 2022 - Many missed $SHIB
🚨 2023 - Many missed $INJ
🚨 2024 - Many missed #VIRTUAL

✅ In 2025, don’t miss _____.