Previously, the risk was first indicated in the analysis, around 10:50 PM on December 3rd, a warning was given in the core community: Phase One, the impact has ended. Subsequently, bottom-fishing began.

Before the occurrence of the Korean black swan event, the risk had already manifested in the market.

The brief political turmoil in Korea caused panic in the market, which was limited to within an hour, and everyone thought it was Seoul Spring 2.0. As a result, it ended hastily in just a few hours.

Some popular targets experienced a short-term "spike" with declines reaching 50%, such as KAIA. After the short-term "spike" ended, many altcoins surged dizzyingly.

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

BTC appeared slightly sluggish due to the unusual movements in U.S. government wallet addresses. The BTC ecosystem remains sluggish, while STX began to rise, and ORDI had a slight rally, seemingly giving hope to those who were stuck in losses.

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

BNB is optimistic because the Trump administration in the U.S. is expected to open up the Crypto industry for IPOs at an all-time high.

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

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