Hey guys, let me share some honest thoughts with you.

As we approach the final month of the year, there’s really nothing new on the macro front. Japan might have some moves, but elsewhere, it’s mostly calm. The Federal Reserve’s rate-cut cycle has ended this year, and this week, the ECB and other central banks are just going through the motions—whether they cut or not, it doesn’t make much difference.

So here’s the question—what’s the core logic of the market moving forward?

One word: **Closure**.

The US stock market is busy wrapping up the annual line. What are institutional investors doing? Clearing out positions and settling accounts. Simply put, they’re locking in gains for the year to secure profits and make their books look good.

The crypto world is no exception. Major institutions like Invesco and BlackRock, which are issuing crypto ETFs, are also doing fund liquidation and position adjustments as the year ends. Imagine it like a company’s year-end audit—everyone wants their numbers to look good, so short-term volatility is inevitable.

So, the current situation is:

Macro disturbances have already settled down. What will truly influence the market next is the year-end fund reallocation and the final showdown of the yearly trend.

My straightforward advice—**just wait**.

Especially for those with medium- to long-term strategies, now is the time to stay calm. The funds capable of holding medium- and long-term positions are not small, and recklessly moving would be too costly. Observe more, act less, pay close attention to every detail of the market, and prepare for future arrangements.

The goal at the end of the year isn’t to make a big profit, but to get through this month safely. The volatility of mainstream coins like SOL, BNB, and ETH will likely continue, but the overall direction remains stable.

Let’s get through December together, and restart in the spring of next year!