The last trading day before the New Year saw a slight market dip, but it didn’t have much of an impact on sentiment. Although the crypto market has been criticized a lot recently, $BTC has managed to maintain a slight oscillation pattern over the past two weeks, which is no small feat. From a macro and political perspective, there haven’t been any major bearish signals lately. On the macro side, the Fed is still waiting for new data, and politically, Trump is still pushing hard to get tariffs through. Perhaps the biggest headache is the ongoing geopolitical conflict between Russia and Ukraine, with no signs of a ceasefire in sight. On a more optimistic note, the U.S. economy might be doing slightly better than expected. Although the labor market is weakening and investor sentiment isn’t very positive, GDP growth suggests that the U.S. is still quite far from a recession. If the Fed intervenes earlier, there’s still a chance for the U.S. to achieve a soft landing. This makes the Fed’s monetary policy a critical factor not just for 2022, 2023, and 2024, but also for the fourth consecutive year. Looking at 2025, the market will likely still be heavily influenced by Trump and the Fed. And in 2026, the tug-of-war between Trump and the Fed will continue, but with Powell’s term ending that year, it might be Trump’s best opportunity. For risk markets, 2026 could be a year of both opportunities and challenges. Looking back at Bitcoin’s data, the turnover rate has slightly increased but isn’t significant. Compared to previous weekdays, it’s still relatively low. Overall, investor sentiment is holding up. Although there was a slight dip before the holiday, it shouldn’t have much impact on the New Year break. The key battles will likely unfold a week later. The $87,000 accumulation level is quite high, with nearly 900,000 coins stacked there now. Historically, when a single price level accumulates too much supply, it often forces investors to make directional decisions. Both upward and downward movements are possible, but whenever this happens, the volatility tends to be much greater than usual. @bitget VIP, lower fees, bigger perks!