The recent cryptocurrency market trend has been quite cautious. In the past 24 hours, both Bitcoin and Ethereum experienced slight pullbacks, and altcoins were generally under pressure, with the overall market sentiment leaning towards conservatism. The total market capitalization of cryptocurrencies declined by 2.22% in the last trading cycle and is currently stable around 2.95 trillion. This decline was mainly driven by two major factors: ongoing macroeconomic uncertainty and the increasing correlation between crypto assets and high-risk assets like Nasdaq.

The US stock market is also under pressure, with the three major indices all declining. The Nasdaq index fell by 0.50%, the S&P 500 dropped by 0.35%, and the Dow Jones Industrial Average decreased by 0.51%. The shockwaves from the precious metals sector also affected technology stocks, triggering a technical correction across the board.

Looking at market hotspots, several events are worth noting. US President Trump delivered a speech at 2:15 AM today and publicly announced that the list of candidates for the next Federal Reserve Chair has been finalized, which had a notable impact on market sentiment. The sharp fluctuations in the commodities market have also heightened market tension, especially with significant declines in sectors related to precious metals.

There are also plenty of highlights in the crypto space. Tokens like SVL, KMNO, and ZORA are set to undergo large unlock periods on December 30, which could impact short-term liquidity. On the other hand, Bitmine Immersion has significantly increased its holdings by 44,463 ETH over the past week, with the total surpassing 4.11 million ETH. They also plan to officially launch their own validation network, MAVAN, in 2026 to expand staking capacity, indicating institutional confidence in Ethereum’s long-term value.

The Fear & Greed Index is currently at 23, indicating extreme fear, reflecting cautious sentiment among market participants.