The short-term market variables that will affect us next are the U.S. stock market:

Although the S&P and Nasdaq closed up weekly, there was a rapid and comprehensive decline last Friday, possibly due to the following three reasons:

Quarter-end pension stock-bond rebalancing (short-term) The 10-year U.S. Treasury yield has remained high and further surpassed 4.6%, compressing U.S. stock valuations (medium-term) The Federal Reserve slows down interest rate cuts,

Meanwhile, the Bank of Japan unexpectedly adopts a hawkish stance and may raise interest rates again in January,

The risk of narrowing U.S.-Japan interest rate differentials (long-term) If it’s only due to the first reason, there’s no need to worry, the market should improve in January; if it’s due to the second and third reasons, it may cast a shadow over the rise of U.S. stocks, bringing concerns for sustained growth, which will only improve when future inflation expectations and the number of interest rate cuts become clearer.

However, the shadow over U.S. stocks is bound to be short-lived and easily dispelled. Technology stocks have shown strong profit-making ability even in a high-interest environment, combined with the booming development of AI, there really isn't much to worry about.

As Trump is about to take office in January, the probability of the U.S. stock market performing poorly this month is not high, which also eliminates the risk of a downturn for the cryptocurrency market.

This year's market is extremely challenging, with a pace as fast as lightning, the dominance of altcoins has remained high, and aside from patiently waiting for spot prices, there seems to be no other choice. However, please remember that every difficult period is to welcome a better future. I firmly believe that 2025 will be a year of a major bull market; as long as we get through the short-term difficulties ahead, a super bull market will surely erupt as expected!

The recent strength of ETH is a significant signal for the market. Although most altcoins have not yet started a massive rally, it has given a strong bottoming signal. Perhaps at this moment, the market's vehicle has already begun to enter the chapter of the altcoin season.

A major market movement is clearly approaching a critical juncture.