There have been quite a few interesting events in the past two days.

Although the US stock market closed early yesterday (shortened trading hours), it was still busy. The S&P 500 rose 0.32% to a new closing record, the Dow Jones increased by 0.6% to a new all-time high, and the Nasdaq remained steady with a 0.22% gain, keeping pace. During the Christmas season, it seems the US stock market is giving out big gifts in advance.

In contrast, the US dollar performed poorly. It briefly fell to a three-month low, though it managed a slight rebound of 0.23%, which still seemed somewhat weak. Meanwhile, the Chinese yuan quietly rose for three consecutive days, approaching the 7.0 mark. Friends traveling abroad might want to sneak a smile.

But what about the crypto market? It completely missed this wave of market festivities. Bitcoin is trading sideways around 87,000, with a trend like you, lazy to get out of bed during the holidays—lifeless. Since the sharp correction in October, it has fallen about 30%, and trading volume has also cooled down. US stocks and gold are stealing the spotlight, and the heat of crypto assets has clearly diminished.

The entire market appears to lack momentum, with fewer participants and a sharp decline in activity. Has everyone gone on holiday? But this also reminds us of an old saying—the moments when liquidity is most exhausted are often the turning points when opportunities quietly approach.