The changes in funding rates for mainstream trading pairs indicate a shift in market sentiment towards bearishness. The adjustment of funding rates reflects a cooling of bullish enthusiasm, and traders are becoming more cautious about the future market, with a growing trend of short positions.

【链文】有意思的链上数据出现了。那个地址0x38fd最近的操作值得关注——先是平掉了HYPE的多仓头寸，顺利斩获24.9万美元的利润。转身没多久，这位交易者竟然在过去两小时里重新开设了321,484枚HYPE的10倍杠杆多仓，涉及金额高达790万美元。
这种止盈后立即重仓的操作，能看出对HYPE行情的持续看好。只是10倍杠杆玩法风险也不小，得时刻盯着止损和风险敞口。

The Federal Reserve has an 84.5% probability of maintaining interest rates unchanged in January next year, with a 15.5% chance of a rate cut. The market expects a tightening liquidity environment, which may impact crypto asset allocation. Investors should pay attention to the Federal Reserve's developments.

Pacifica Decentralized Perpetual Contract Platform launches cross-platform funding rate query feature, helping traders compare rates across different platforms in real-time and identify arbitrage opportunities. Several traders have used this feature to profit from hedged positions, with detailed reference data on the differences of major cryptocurrencies. The platform also introduces a copy trading tool, allowing users to replicate high-frequency trader strategies and earn additional trading points.

Recently, precious metal prices have fallen back, with platinum, palladium, and silver facing profit-taking pressure, while Bitcoin and Ethereum have begun to rebound. Analysts believe that the precious metals market is saturated with funds, making short-term rebounds difficult to sustain, leading capital to flow into relatively undervalued cryptocurrencies to optimize risk and return.

Recent on-chain data shows a significant outflow of BTC from centralized exchanges, with a total net outflow of 510.29 BTC. Exchanges like Kraken, Gemini, and Gate have consecutively seen BTC outflows, while a major exchange has absorbed a large inflow, indicating differing perceptions of BTC's value among market participants, which may signal a shift in market sentiment.

【Crypto World】SOL's performance over the past 4 hours is quite interesting. Compared to the morning of December 24, the price has slightly risen, but it has already fallen back quite a bit since the opening on December 23. The candlestick shows a large bullish body, and the last candle still closed as a bullish candle, with the closing price higher than the opening—this pattern usually indicates resilience among the bulls.
However, trading volume has been somewhat dull, with recent hours showing a significant decrease in turnover. The price and trading volume are moving downward together, indicating that the market is currently in a wait-and-see phase with low participation.
How to interpret the technical indicators? The MACD is quite interesting—its histogram remains negative, but the negative values are gradually narrowing, suggesting that the bearish momentum is weakening and the bulls are quietly gaining strength. The KDJ indicator currently shows no clear golden cross or death cross signals, with values hovering around 25, indicating a neutral to slightly weak state. Divergence between volume and price is also evident.
Trading reference levels are here: for buying, consider 121.31 and 121.

Bitcoin's BCMI indicator continues to decline and has now fallen below the midline, indicating that the market is undergoing a structural reset. Historical data shows that the cycle bottoms in 2019 and 2023 were both near the 0.25 to 0.35 level on the BCMI. The current market may be transitioning into a true bear market rather than just a simple correction.

An investor bought BTC two years ago at a price of $29,775. Recently, they withdrew 99.9 WBTC from the exchange and collateralized it on Aave, borrowing 2 million USDC for deployment. The current unrealized profit on the books has reached $4,232,000, demonstrating their keen investment insight.