Shanzhai cannot be played; it will really get confiscated. It’s not for small retail investors, it follows the downtrend rather than the uptrend. 95% of shanzhai on the market only have one wave, interest rates are expected to be lowered twice next year, initially expected to be four times, but the expectation for rate cuts next year has decreased. The U.S. is basically making hawkish statements while doing the opposite. Looking at the market in 2023, January was a decline, and the market only warmed up at the end of the month. Currently, we can only trade short waves, in and out quickly.

To summarize this afternoon's key points:

1: BlackRock and Grayscale are both increasing their positions in spot, one is increasing mainstream, and the other is increasing shanzhai.

2: Bitcoin is rebounding on decreasing volume, the strength is not as strong as before, and the price rebound in the range of 102600-103000 will continue to decline.