I just reviewed the midday market, and I find the situation quite interesting.

Bitcoin is currently trading around $87,329, down 2.92% over the past 24 hours. Looking back, after the surge to a high of $93,000 on December 11, it has been steadily adjusting downward. Ethereum's situation isn't much better; the latest price is $2,934.8, down only 0.24%, but the weekly decline has reached 2.62%, indicating that the bullish momentum is clearly lacking from a technical perspective.

Interestingly, this decline isn't a "solo performance" for Bitcoin and Ethereum. A closer look at overnight data reveals that major US stock indices, gold, and silver are also trending downward, indicating a broader macro sentiment driving the market—whether it's risk aversion or profit-taking, risk assets are being reevaluated across the board.

The current issue lies in liquidity. During the year-end holiday period, market participation naturally decreases, and trading volumes shrink accordingly. In this environment, even modest capital can lead to significant volatility. In other words, small sell-offs can cause substantial price swings.

From an institutional perspective, attitudes remain relatively cautious. Some believe Bitcoin may enter a multi-month downtrend, with ongoing short-term price pressures. Additionally, market focus seems to be shifting back toward mainstream assets like Bitcoin and Ethereum, while other cryptocurrencies might become more marginalized.

Looking ahead, volatility during this holiday period could remain quite intense. The key is to monitor important technical support levels and watch when funds start flowing back after the holidays. That will be the real test of the market's direction.