Crypto Breakfast | December 24th: Gold continues its record-breaking rally, surpassing $4,490 and approaching the $4,500 mark, closing up 0.93%; Silver breaks through the key psychological level of $70, closing up 3.54%; LME three-month copper price breaks $12,000 for the first time, hitting a record high; 2. US stocks close slightly higher, Dow up 0.16%, Nasdaq up 0.57%. S&P 500 rises 0.46%, hitting a new closing high. Hasset: Forecasts that monthly new jobs may return to 100,000+, and the Federal Reserve is far behind the curve on rate cuts. 5. US Treasury Secretary Yellen suggests the Fed could consider adjusting inflation targets to a range of 1.5%-2.5% or 1%-3%. 6. Matador approved to sell $58.4 million worth of stock to increase BTC holdings; iPower raises $30 million in the first phase to purchase BTC/ETH. Listed companies continue to incorporate crypto into their treasuries. Binance launches Lighter (LIT) perpetual contracts pre-market trading with up to 5x leverage. CertiK releases annual security report: Web3 losses in 2025 are estimated at about $3.35B, up year-over-year, with phishing still being high-frequency and high-loss. Zama OG NFT holders can participate in ZAMA token community sales at the public auction floor price, with a FDV of $55 million, and a maximum of 40,000 tokens per holder. When the public auction ends, any user holding a Zama OG NFT will receive a 5% reward of the transaction price (up to 1 OG NFT per wallet). On December 22nd, US spot Bitcoin ETF net outflows of $142.2 million, while US spot Ethereum ETF net inflows of $84.6 million, ending a seven-day streak of net outflows. Ethena’s synthetic stablecoin USDe market cap has shrunk by nearly half since the “1011 crash,” with net outflows of about $8.3 billion, at its peak close to $15 billion. 【Bitcoin Market Analysis】 Bitcoin’s Q4 performance since 2018 is the worst, with market rebound weak. Meanwhile, gold, silver, and stocks continue to rise. The 1011 event was a fatal blow to the entire crypto market. The Christmas rally did not bring sustained upward movement. As we enter January, many uncertainties worry the market, such as January data affecting rate cut expectations, or whether MSCI will remove MSTR, etc. Currently, on the 4-hour chart, the market is weakly oscillating, with no strong downward or upward momentum. All these uncertainties increase after entering January, so patience is advised. 【Risk Reminder】 Digital assets are highly volatile with extreme risks. Please participate cautiously, avoid full-position gambling, and refuse to use leverage or loans.