If you make 10 million from cryptocurrency trading and want to transfer the money to a domestic bank account, this may be regarded as a huge amount of property of unknown origin, and may even constitute a crime. However, there are some legal ways to convert these funds into legal income.

One way is to withdraw USDT from the exchange to BiyaPay, a wallet with a legal license in the United States. In BiyaPay, you can exchange USDT for an equivalent amount of US dollars, and then withdraw the US dollars to Wise or OCBC Bank. Although there will be handling fees and exchange rate losses in this operation, these funds are legal. From Wise, you can transfer US dollars back to Alipay, WeChat or Bank of China, but there is an annual limit. OCBC Bank's 360 account can be directly withdrawn in China without the $50,000 limit.

Another way is to withdraw USDT to iFAST UK Bank through Kraken Exchange, which also has a legal license. This method is also legal, but it will also involve handling fees and exchange rate losses.

Please note that although these methods are legal, it is best to consult a professional legal advisor before operation to ensure that all steps comply with local laws and regulations. It should also be noted that any path to legalization will have certain costs, which is to ensure the security and legality of the funds.

Powell's remarks led to a sharp decline in the Nasdaq Composite by 3.61%, approaching its largest drop in recent years. His hawkish comments did not stop there; they also impacted the cryptocurrency market, stating that the Federal Reserve has no authority to hold Bitcoin, which caused Bitcoin to drop by 5%, having a significant effect.

This is a strong sell-off, and his comments are unpredictable, impacting both retail investors and Wall Street. The main reason for the plunge is Powell's statement that there may only be two rate cuts next year, triggering declines in various assets.

In fact, this drop may be a correction due to previous excessive gains, just rather intense, for three reasons:
Firstly, the Federal Reserve has no legal authority to purchase reserve Bitcoin, and Bitcoin is not a legal tender;
Secondly, many people are not interested in Bitcoin, and not everyone agrees with it, similar to gold which also has non-acceptors; if everyone enters the Bitcoin market, its appeal may decrease;
Thirdly, the expectations for rate cuts in 2025 have been reduced from four to two, and both the Nasdaq and Bitcoin's previous surges were too strong, with the decline simply reflecting market demand.

The bull market will not end quickly, 'picking up passengers', the Trump family has heavily invested in Ethereum and is currently facing losses, still averaging down after yesterday's sharp drop. Spot users need not worry too much; the adjustment period is expected to last about a month, with Bitcoin showing a long-term upward trend, and a positive outlook for next year's market. This year's market is gradually coming to an end, and next year will be even more exciting, with the climax yet to begin.

Grasp these key points, and the money-making opportunities are "at your fingertips"

The key points for making money are as follows:

First, Bitcoin will definitely adjust when it reaches the $100,000 mark.

Second, Bitcoin's final target for next year is $180,000.

Third, altcoin markets show a phase of alternating rises and falls.

Fourth, focus on selecting coins in the four tracks of RWA, L1, AI, and MEME, and disregard the rest.

Fifth, in these tracks, if the weekly chart shows a horizontal line, you can directly and boldly go all in.

Teach you five tricks to easily grasp the market

First, never chase high prices; only buy low-priced varieties. As long as this variety is not too bad and won't be delisted by major exchanges, it will eventually rise in price sooner or later.

Second, do not do short-term trading in spot markets; focus on medium to long-term investments. We need to be mindful; short-term trading requires high skills, mindset, time, and energy, which makes it the most difficult. Retail investors have the advantage of time; just watch the weekly and daily low points and wait to enter.

Third, do not buy more than three varieties, and keep your investment within 500 million. Buying two varieties gives you a higher probability of doubling your investment compared to buying ten varieties.

Fourth, lower your expectations. Don't always think about making several times your investment in a year and then not selling when it rises, repeatedly going through ups and downs. If you can't sell, just wait for the main upward trend and sell when it approaches historical highs.

Fifth, reduce trading frequency. Retail investors shouldn't think about trading every day or every week; this will most likely lead to losses. Being in cash is indeed difficult, but it must be overcome. You can trade once a month, and each time aim to get it right.

A decline is not a risk; a decline is a process of reducing risk. Risk comes from rising, and opportunities arise from falling. Therefore, your actions during a decline determine your mindset during a rise. If you don't buy during a decline, you will chase after the rise, and chasing will likely lead to being trapped. Once trapped, you will cut losses during a decline. It’s a cycle. Conversely, a good start: buy in batches during a decline, take profits in batches during a rise. Continue buying in batches during a decline, and continue taking profits in batches during a rise. Whether in investment or trading, the essence is to sell high and buy low. Buy low, sell high. Chasing after short-term emotional premiums may make money but certainly won't last. Always remember to respect the market and grasp the emotions.

No signs of a rebound at all? Market sentiment remains sluggish

The current market performance is weak, with no signs of a rebound in sight. Market sentiment is low, institutional funds are on the sidelines, and retail investors generally lack direction, leading to a prolonged absence of a rebound.

Why is there no rebound?

1️⃣ Lack of market confidence
The market lacks clear positive stimuli; mainstream coins and altcoins are in a state of fluctuation or decline, with limited capital inflow, making it difficult to drive prices up.

2️⃣ Large selling pressure from trapped investors
Many investors are stuck at high levels, and any slight rebound triggers selling pressure, directly suppressing price increases.

3️⃣ Institutional shakeout has not yet ended
Institutions may be waiting for more low-priced chips, causing the market to remain under continuous pressure, inducing retail investors to cut losses and exit.

What to do?
1. Stabilize your mindset: Avoid emotional trading; the prolonged absence of a rebound does not mean the market is collapsing; it may just be the institutions' accumulation phase.
2. Monitor key support levels: Pay attention to the support levels of Bitcoin and mainstream coins; if they break, consider reducing positions; if they hold, patiently wait for rebound signals.

Summary: The current market is still in a sluggish period, and a rebound takes time. Hold positions steady, avoid panic, and quietly await signals of capital inflow!

The second wave of bottom-picking signals appeared, and I bought the second share of the altcoin I was optimistic about, which was 40% of the total position. At this position and position, if BTC has a big bull market in the future, it is enough to make a lot of money.

Don’t buy it if it falls again in the future. If it falls again, it proves that the bear market is coming. There is no bottom for altcoins.

Ethereum in December last year and the current market 🆚

Figure 1: Ethereum's highest price from December to January last year was 2717, and the lowest price was 2168, with a 25% correction. It was also the Ema99 moving average position that began to stabilize

Figure 2: If Ethereum refers to last year's market, the low point of this round of correction is probably at the Ema99 corresponding price of 3185

As can be seen from the figure, once the market corrects, there will be no good rebound to help you get out of the trap. If you follow the long order today, you must close the position at the cost price

Some time ago, most people thought it was a bull market and heavily bet on some sectors, thinking that the market's copycat season was coming soon. When the market's views were very consistent, this situation did not happen. The copycats collectively made some false breakthroughs and recovered.

When the market's views are too consistent, it is also a dangerous signal. This year, the copycats have not risen much overall, and some have even returned to the starting point. On the other hand, the big cakes have continued to hit new highs, and we are still fighting in the stock market.

This market is a huge Shura field. Perhaps only a bloodbath can change the consistency of views, wash people to completely doubt the existence of the bull market, wash to the limit of everyone's patience, and maybe then it will be a good time.

I've been thinking recently. It's hard to make money in the secondary market. Can I make a big picture? Combined with the fact that I can easily make money playing meme, and the recent experience of making money with new coins usually, it tells me that if it's hard for me to make money, it must be my problem. Money is blown by the wind. It's my investment idea. Don't have too many illusions about vc coins. At this stage,

2024.12.20 Market Signal Scan

1. Market Liquidity

The USDT supply decreased by 365 million, marking the largest decrease since July 2023, and market liquidity continues to deteriorate.

2. Market Leverage Ratio

The Bitcoin holdings amount to 662,900 BTC, which shows no significant decline compared to the peak of 667,000 BTC, and is nearly 10% higher than the December low of 603,100 BTC.

Ethereum holdings have seen a slight increase during the decline, currently at 7,382,700 ETH, at a historical high.

The leverage ratio of mainstream coins remains high.

3. ETF Capital Flow

The four indicative Bitcoin spot ETFs, FBTC, ARKB, BITB, and BTC, experienced a total net outflow of 548.8 million USD yesterday, significantly increasing compared to the net outflow on the 17th and 18th.
FETH, ETH, and ETHW, the three indicative Ethereum spot ETFs, had a net outflow of 4.9 million USD yesterday, showing a significant decrease compared to the 30.2 million USD net outflow on the 18th.

Bitcoin ETF selling pressure has surged, while Ethereum ETF selling pressure has decreased.

4. Market Sentiment

The weighted funding rates for Bitcoin and Ethereum are both below 0.01%.
The Binance USDT lending rate has slightly decreased, currently at 11.83%.
Market sentiment continues to remain sluggish.

5. US Buying Demand

Along with the market decline, the Coinbase Bitcoin premium index continues to decrease, and US buying demand continues to weaken.

Brothers, Bitcoin hits 95680 again
The reason for the sharp drop is still the Fed. The hawkish tone released by the Fed the day before yesterday exceeded expectations, causing a shock in the financial market. Powell said that subsequent interest rate cuts should be cautious. US stocks are also falling sharply. The next 1-2 weeks will be the stage of digesting this news.
So how much will BTC fall?
If we look at the K-line, it will develop that BTC has been trading sideways at a high level for 35 days.
And the bottom is getting higher and higher, until the black swan appears at the Fed meeting.
Because the 30-day purchase cost is above $90,000.
There is also an expectation that the United States will include BTC in its strategic reserves.
At present, the decline is almost enough, and the maximum decline is in the range of 88,000-91,000.
On-chain data shows that yesterday
BTC inflow to exchanges increased by 15,000
Most of it came from Binance, which increased by about 10,000
Coinbase is in an outflow state
At present, the Asian market is in a serious market crash,
The US market is still accumulating funds
It will fluctuate in the range of 95,000-98,000 over the next two days of the weekend
It will not rebound immediately, and it will take until the US stock market stabilizes next week and stops falling and starts to rebound
The impact of the Federal Reserve will be released for another 3-5 days
Don't sell the coins you currently hold, it is recommended to hold them and wait for a rebound
BNB, ETH, SOL, you can buy the bottom in batches.

We haven't figured out who is the butcher and who is the fish in the cryptocurrency world, and under this premise, technology + theory are all just illusions.
The market of zero-sum games is simply one person's money going into another person's pocket. Whether it's a bull market or a bear market, this essence will not change.

Because the number of expected interest rate cuts next year has decreased, the monetary easing does not meet expectations, which means that the Federal Reserve's future interest rates are still high. As a result, money has flowed from various countries, stock markets, and the cryptocurrency world into the US dollar, causing the dollar index to soar, and liquidity in the cryptocurrency space has dried up. Here, the valve has been opened, but the water flow at the end of the pipe is smaller, which can only indicate that there is a leak somewhere in the middle of the pipeline. Plus, many institutions led by Meitu, Sun Yuchen, and others have sold off as the year-end approaches, waiting for a dip to buy back. At this time, there will be a lack of liquidity, leading to severe panic selling.

This week will see a lot of volatility, with fireworks going off continuously, a bunch of people getting liquidated, until no one dares to take action anymore. For now, I won't act either; I still need to be cautious about risk prevention.
Buying the dip is one thing, but I still need to avoid the market turning bearish directly. The recent drop won’t rebound that quickly and will only cause panic selling. Hold on, let's wait and see over the weekend.

$ORDI is hot, so someone is speculating on $SATS, claiming to seize the leader
$GOAT is hot, Easterners are talking about $ACT, Westerners are working on $FARTCOIN
$VIRTUAL is hot, so there are immediately more AIs

As a result, retail investors are exhausted and ragged.

PVP games have evolved from conspiracy to scale, and if you want to keep it simple, you can only focus more on the top-tier, most visionary people and projects.

Trading Opportunities: Wait or Seek?

1. To wait is passive, to seek is active. Waiting for trading opportunities lets them present themselves, we simply wait passively; seeking trading chances means actively searching in the market.

2. Waiting is like casting a net and waiting, seeking is like throwing a net to catch. Thus, waiting relies on "objective" market measures, using whatever net to catch whatever fish; seeking relies on "subjective" market observation, throwing the net where the fish are seen.

3. Waiting results in few trades, seeking results in many. When waiting for trading opportunities, if they are not present, it is quiet, hence fewer transactions; seeking means frequently casting nets, leading to more trades.

4. Waiting is more precise, seeking is somewhat blind. Waiting is "no eagle without a rabbit," seeking is "strike at the slightest movement of grass," precision differs, yet waiting is prone to missed opportunities.

Both have their differences and similarities; one must have a "net" and traders choose their method.

In the current cryptocurrency market, expectations of interest rate cuts are undoubtedly influencing prices, but the correlation between Bitcoin and major stock indexes has significantly decreased, which means that short-term fluctuations will not have a long-term impact on it. Experts predict that a slowdown in interest rate cuts in 2025 is not surprising; however, this has put pressure on risk assets including cryptocurrencies. Although macroeconomic factors often dominate the trends of cryptocurrencies, as the market's expectations for changes in government policies intensify, factors specific to certain industries may gradually take precedence. Recently, Bitcoin's pullback has been relatively small, but many altcoins have suffered a 'halving' style defeat! In the face of strong economic rhetoric and expectations of slower interest rate cuts in 2025, the market's response seems to be dismissive. For those investing in altcoins, although facing downward pressure in the short term, it is recommended to adopt a layered entry strategy in spot trading. Now is a good time to position yourself; do not let short-term fluctuations affect your long-term investment plans. Seize the opportunity, invest rationally, and you can steadily move forward in this frequently fluctuating market!

The bull market is still on its way, don't be in a hurry to say goodbye!

The transition between bull and bear markets this time is actually quite straightforward: Bitcoin is running up steadily, while altcoins are like a roller coaster, going up and down. Every time altcoins surge, it is often those coins that were previously stagnant that suddenly gain momentum.

In simple terms, retail investors have been shaken out enough, the market has become relatively stable, the story is still being told, and everyone is still listening.

The current approach is to continue finding cheap coins to buy, then wait patiently, don't mess around, and wait for the most exciting time in the bull market next year to join the fun!

You have to know, the last shudder of a bull market is what really gets the adrenaline pumping!

So what happened? When the news of interest rate cuts came out, the market didn't show any favor and took a big tumble. Originally, a rate cut should be a good thing, but Powell's words nearly wiped out the holdings of long contract holders, and Bitcoin's price almost fell below the 100,000 mark.

What the market is worried about now is that there will be fewer rate cuts next year, tightening the purse strings. The Federal Reserve Chairman also said that they cannot buy Bitcoin and do not want to change the laws.

But you have to understand, the market's direction is not determined by them. They might talk a lot, but policies need to be backed by data. Whether there will be rate cuts next year still depends on the data.

I want to say, the bull market is just getting started! Bitcoin still needs to push towards 150,000, Ethereum is aiming for 8,000, Dogecoin might reach 1 dollar, and Pepe coins might even quintuple.

On this journey, many people will be left behind. We need to choose good coins, wait patiently, and not be scared away by temporary fluctuations.

Remember, wealth is reserved for those who are patient and do not give up.