Previously indicated risks in analysis, around 10:50 PM on December 3rd, a warning was issued in the core community: Phase one, the impact has ended. Subsequently, bottom fishing began.

Before the occurrence of the black swan event in South Korea, risks had already manifested in the market.

A brief political turmoil in South Korea caused market panic, limited to within an hour, with everyone thinking it was Seoul Spring 2.0. As a result, it hastily concluded in just a few hours.

Some popular assets experienced a brief 'spike' with declines reaching 50%, such as KAIA, and after the brief 'spike', many altcoins soared dizzyingly.

Originally, Solana had already broken down, but with Grayscale and the New York Stock Exchange (NYSE) submitting the Solana ETF 19b-4 document to the U.S. SEC, Solana was brought back into the fold.

BTC appeared slightly sluggish due to the unusual movements in the U.S. government wallet addresses, and the BTC ecosystem remained weak, while STX began to rise, and ORDI saw a slight pump, with those holding inscriptions seemingly seeing hope of breaking even.

ETH's performance has not been satisfactory, but ecological projects, especially in the DeFi sector, continue to outperform the market: ENS, CRV, GTC, APE, UNI, COMP, AAVE, SSV, BLUR, LDO, MKR, ARB, OP, SNX.

BNB is expected to rise as the Trump administration in the U.S. is likely to open up the Crypto industry for IPOs at record highs.

In terms of new tracks, HYPE has reached a new high again, and VIRTUAL is approaching a new high.

In the short term, attention should be paid to the pullback risks of zombie coins like XRP.