From the market sentiment perspective, the Fear and Greed Index has dropped to around 50, indicating that market sentiment is somewhat bleak. It is expected that after January 6, American institutions and investors will end their Christmas holidays and return to work, at which point market liquidity and sentiment will gradually recover. The market will also begin to prepare for Trump's power transition in two weeks.

From a macro and funding perspective, although market sentiment is relatively low, new funds are still entering the crypto market. For example, yesterday's data showed that Bitcoin spot ETFs had a net inflow of 5.31 million USD, and Ethereum spot ETFs had a net inflow of 35.93 million USD. The inflow of funds into Ethereum has surpassed that of Bitcoin, indicating that American investors have more confidence in the future trend of ETH.

With Trump's administration, compliant crypto projects may become more favored by capital. #比特币走势观察 #比特币战略储备 #2025有哪些关键叙事？