Regarding Bitcoin, the current progress of ETFs, if possible policy suppression is not taken into account, the double benefits will drive Bitcoin up. First, Bitcoin's small market value still has great room for growth, and its safe-haven properties are no less than gold. Second, Bitcoin has strong linkage with US stocks, which are key factors driving the bull market.

However, given the turbulent global situation and increased demand for safe-haven assets, although Bitcoin's consensus is not as good as gold, its long-term trend is optimistic. Even if there is limited room for interest rate cuts in the coming year, Bitcoin is more likely to go out of a "long bull" rather than a "violent bull".

As for other altcoins, due to the decline in speculative enthusiasm and the fact that Bitcoin has attracted more new users through ETFs, the altcoin market lacks revolutionary innovation, and it is almost impossible to reproduce the frenzy in the last round of bull market. This time, Bitcoin will still dominate the market, and may have a larger increase than altcoins. In the long run, "Bitcoin is king" will be the future trend.