Recently, the cryptocurrency market is experiencing significant changes. Market observations indicate that once the market capitalization of altcoins grows by 17%, it may trigger a 'frenzy' phase, suggesting that trading enthusiasm could surge. At the same time, a new wallet withdrew 2,700 bitcoins from Binance within 14 hours, amounting to $256.35 million, indicating a large outflow of funds from the exchange, which may reflect market uncertainty. It is also worth noting that 1,699 bitcoins were transferred from Binance to an unknown wallet, and this significant fund movement has attracted market attention. The expansion efforts of cryptocurrency custody provider Copper mark the gradual maturity of the regulatory environment, while MicroStrategy further increased its holdings by nearly 200,000 bitcoins in the fourth quarter, showing that institutional investors' confidence in bitcoin is continuously strengthening. Currently, the liquidity of Ethereum is also increasing, particularly within the Base protocol, where the total amount of Ethereum bridged to Base has doubled. Looking ahead, 2025 is expected to be a turning point for the market, with conservative predictions for bitcoin prices reaching $150,000. Additionally, $23 billion in bitcoin open interest and $6.37 billion in Ethereum open interest indicate that the market still has significant potential. Overall, the cryptocurrency market is developing towards a more active and mature direction, with the future filled with opportunities and challenges.