The RMB has hit a new high again. On December 30th, the onshore RMB against the US dollar directly broke through the psychological barrier of 7.0, reaching a peak of 6.9960, an increase of about 0.1%. This is the highest point since mid-May last year, and it took more than half a year to reach such a moment. The US dollar weakening and the RMB appreciating reflect changes in the macroeconomic landscape that impact the entire financial market. As part of the global asset market, the cryptocurrency market's exchange rate fluctuations also trigger chain reactions—under a US dollar depreciation environment, the enthusiasm for risk asset allocation often increases. It feels like we should keep a close eye on the trends of exchange rates and international liquidity moving forward.