#数字资产动态追踪 On January 5th, global risk assets experienced a wave of collective gains. The Asia-Pacific stock markets led the charge—KOSPI index in South Korea surged 2.27% intraday, breaking above the 4400-point mark for the first time, a new historical high. The Nikkei 225 also performed strongly, soaring over 1100 points, just 2% shy of its all-time high. Domestic A-shares opened steadily higher, with the Shanghai Composite Index up 0.46%, gradually approaching 4000 points. The Hang Seng Index opened slightly higher by 0.09%.

On the US stock futures side, the S&P 500 rose 0.46%, the Nasdaq increased 0.26%, and the Dow Jones gained 0.58%. Overall, the market maintained a moderate upward trend.

The rebound in crypto assets was especially vigorous. Bitcoin broke through $93,000, Ethereum approached $3,200, and the entire altcoin market became active. Old-school MEME tokens drew particular attention—coins like BROCCOLI714, BONK, BOME, WIF, PEPE, PNUT, and others saw significant gains.

Precious metals also kept busy. Spot gold surged past $4,420 per ounce, up over 2% in 24 hours. Spot silver was even more impressive, breaking through $76 per ounce with a 4.5% jump.

This scene is quite interesting. Traditional stocks, precious metals, and crypto assets all rising together—what does this reflect? It often indicates a structural shift in the macro environment—perhaps a loosening of dollar liquidity expectations or a reassessment of global investors' confidence in the current monetary system. When assets from different categories all rise simultaneously, it signals a potential structural change in the market.

But a warning is necessary here. This kind of broad rally is, frankly, quite fragile. There are many lessons from history—such as the market crash in April 2025, when the total crypto market cap plummeted 10% in a single day—serving as a vivid example. Once macro catalysts shift (for example, a sudden reversal in interest rate expectations or escalating geopolitical tensions), highly correlated assets can quickly trigger chain reactions of sell-offs.

The recent surge in MEME coins? Essentially, it’s a spillover effect from liquidity flooding—fundamentals are not improving, and there’s a need to be cautious of sudden volatility spikes. Keep a close eye on your positions.