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【CryptoPunk】Year-End Review: Cryptocurrency Market Falls from Peak to Trough
After Bitcoin reached a historic high of $126,000 in early October, the entire market began a rollercoaster adjustment. In just a few months, the total market capitalization of digital assets evaporated by approximately $1 trillion, with the year's gains almost wiped out.
The turning point came in mid-October. Following reports of macro policy risk signals, the crypto market experienced a $19 billion liquidation within 24 hours—an all-time record. Ethereum fell nearly 40% over the next 30 days, and market sentiment plunged into panic.
The decline in November was even more severe. Bitcoin once plunged below $81,000, marking the largest single-month drop since 2021. Although the price has been oscillating around $90,000, market opinions on the future trend remain highly divided.
Clash of Views: Winter or Cycle?
Pessimists warn that the market has officially entered a new "crypto winter." But there are also differing opinions...

The CEO of Bank of America pointed out that after a year of trade policy turbulence, market tensions are beginning to ease, and global tariffs may stabilize around 15%. However, at the same time, labor shortages and uncertainties in immigration policies have become new concerns for businesses, potentially having a longer-term impact than tariff issues.

Bitcoin breaks through the $90,000 mark, signaling a breakthrough in market psychology that may attract more capital and prompt adjustments in holding strategies. The next three key milestones will determine Bitcoin's long-term development, involving market perception, policy environment, and adoption rate. This breakthrough symbolizes the maturity of the Bitcoin ecosystem and the development process of the crypto market.

【CoinPush】Ethereum's recent market activity has been quite interesting. According to Coinglass statistics, the total open interest of ETH contracts across the network surged by 5.12% in the past 24 hours, now reaching $38.749 billion.
In terms of distribution across major platforms, a leading exchange accounts for the largest share, with open interest reaching $8.405 billion, completely surpassing its competitors. A mainstream platform follows closely with $2.151 billion, while a derivatives exchange ranks third with $2.586 billion.
What does this data indicate? Funds are concentrating on long ETH contract positions. The growth in open interest often signals that market participants have a bullish outlook—whether institutions or retail investors are betting on Ethereum's price movement. It's worth paying attention to, especially during such rapid growth, as risks and opportunities often coexist.

December 29, the crypto market remains sideways, with Bitcoin and Ethereum experiencing slight gains. The total market capitalization is approximately $3.058 trillion. Some altcoins like GMT and AT coin performed well, rising by 18.4% and 17.4% respectively. However, certain tokens like HOME and STORJ saw significant declines, reminding investors to pay attention to risk management.

The crypto market has recently experienced volatility, but analysts believe the adjustment is a short-term liquidity shock and does not indicate a collapse. Looking ahead to next year, the market outlook is optimistic, supported by Federal Reserve policies, technology stocks, and the application of blockchain technology on Wall Street. Public chains like Ethereum will benefit from favorable development.

Ethereum developers criticize the process of installing Linux on a new computer, accusing it of requiring continuous internet connectivity and dependency on Microsoft, calling it "dystopian." This incident reflects how centralized systems erode user autonomy and privacy, while also emphasizing the importance of decentralized systems in granting users greater control over their data.