2025-12-27 20:22:29

Recently, the crypto market has been a bit boring this week. I was hoping that the Christmas rally would give it a boost, but it didn't happen. BTC's performance has been particularly dull—its price just oscillates within that predetermined range, never truly breaking the upper or lower bounds. ETH, on the other hand, is somewhat more in line with expectations, repeatedly struggling between support and resistance levels.

From a sentiment perspective, there hasn't been much improvement. ETF funds are still flowing out, trading volume remains very low, and there’s no clear consensus among whales on where to bet. Frankly, last week wasn't about confirming a trend; it was more about wasting time and draining the structure.

It's worth noting that Polymarket and Trust Wallet were both hacked successively. Coupled with Polymarket's move to build its own L2, these leading applications are gradually moving away from the original public chain ecosystem. The logic of value capture on-chain is being redefined.

Speaking of 2025, my feeling is that the market lacks a clear wealth effect; its structure and attributes are undergoing transformation. Compared to previous cycles, this feeling is especially pronounced.

On the macro level, things are a bit complicated. The Federal Reserve is swinging between easing expectations and liquidity tightening—injecting liquidity into the market via RMP, which looks like a form of QE, but on the other hand, year-end capital repatriation and risk aversion are currently dominant. The Fed is buying short-term bonds to prevent systemic risks, which stabilizes the situation but hasn't yet translated into a boost for risk assets. The market is also quite cautious about subsequent policy moves.

BTC0,17%

ETH0,25%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

17 Likes

Reward
17
8
Repost
Share

Comment

0/400

ProbablyNothing

· 15h ago

The Christmas market is gone, and the whales are also quiet. This week has been a complete waste of time. BTC is just wobbling around, ETH is a bit more interesting, but honestly, there's not much to look at. The real highlight is Polymarket building its own L2; the public chain ecosystem is indeed undergoing a reshuffle. By 2025, it seems the wealth effect is really gone, completely different from previous cycles. The Federal Reserve's combination of measures sounds like QE, but in fact, they are still tightening, and risk assets are fundamentally not going up.

View OriginalReply0

TokenomicsTherapist

· 21h ago

The Christmas market is gone, BTC is still swinging around, really pointless. ETF outflows, whales are also silent, this week is purely a test of time. Polymarket and Trust Wallet hacked? The on-chain ecosystem is collapsing. What about the wealth effect in 2025? Feels even more虚 than the last cycle. The Federal Reserve is doing QE while tightening, what are they really trying to do? The market can't see through it. This wave of market feels like something is missing, lacking that crazy momentum. BTC is stuck in a range, really no point if it doesn't break out. On-chain value is being reshuffled, who can still capture the dividends is really hard to say. Liquidity tightening is the main driver, risk assets can't go up, everyone. End-of-year risk aversion is so strong, why still want to make quick money?

View OriginalReply0

DataPickledFish

· 21h ago

Christmas market? Haha, that's not happening at all. The crypto circle is now just wasting time and consuming structure, it's boring. If BTC keeps swinging like this, it'll be deadly. ETF funds are flowing out, whales have no direction, basically no one dares to bet. Polymarket and Trust Wallet being hacked is also a joke; leading applications are starting to detach from the public chain ecosystem, and that's the real problem. 2025? The wealth effect will completely disappear, and comparing it to the previous cycles shows how cold this round will be. The Fed is both easing and tightening at the same time, what are they playing at? Anyway, risk assets are not gaining momentum.

View OriginalReply0

BearMarketBard

· 22h ago

Is this the Christmas market? I thought it would be lively, but it turns out BTC is still circling in that dead zone, so annoying. --- ETF funds are flowing out, trading volume is sluggish... Basically, right now it's just air coins, no one dares to move. --- Polymarket building its own L2, it seems top applications are really going their separate ways, public chain ecosystems are being dismembered. --- The wealth effect in 2025 will disappear directly. This cycle doesn't feel like making money like before; the structure has changed. --- The Fed's move looks like QE but is actually tightening, just fooling retail investors. Short-term bonds can't really turn into upward momentum. --- Wasting time, consuming structure... I like this wording, it’s just suffering, no real trend. --- It hurts that whales haven't placed their bets, indicating even institutions can't understand the follow-up, so what rebound are we talking about? --- Macro is complex, policies are swinging, risk assets can't rise, this is the real situation right now.

View OriginalReply0

ForkThisDAO

· 22h ago

Christmas market? Laughing. With this crappy market, what are you even expecting? BTC is just that way, swinging back and forth for a long time without daring to move. ETF is still flowing out, whales are also inactive. Honestly, everyone is just watching. Polymarket's move to build its own L2 is interesting; it seems like they are going solo. The on-chain ecosystem reshuffle is becoming more and more intense. The Federal Reserve's recent actions are truly ambiguous. Whether it's QE or tightening, it's hard to say. Anyway, the market is just panicking. There really isn't much wealth effect in 2025; it's all just fragmented small-market movements. It's no longer the same old game.

View OriginalReply0

SignatureAnxiety

· 22h ago

The Christmas market is gone, and we have to wait for the Spring Festival. Come on, everyone. Is ETF flowing out again? What can retail investors play then... Honestly, this week has been really about killing time, getting tired of it. Polymarket building its own L2... The public chain ecosystem is indeed changing. The Federal Reserve's measures still can't stabilize market sentiment. Whales not making moves probably means they haven't decided yet. Instead of waiting for the wealth effect, let's see who is buying ETH. The current cycle indeed feels different from before. Hackers making consecutive moves? On-chain security is something we need to pay attention to. BTC is just swinging around; when will it really come...

View OriginalReply0

RetiredMiner

· 22h ago

The Christmas market really got slapped in the face this time. Where's the excitement everyone was expecting? Is this it? --- Even whales are directionless, retail investors are more lost than ever. --- The outflow of ETFs signals a bit of coldness. --- Polymarket's self-built L2 move is well-timed; the ecosystem is about to be reconstructed. --- The feeling for 2025 is definitely different. Where has the wealth effect gone? --- The Federal Reserve is wavering, so we just have to follow the turbulence. --- Basically, it's just stalling for time. What are we waiting for, everyone? --- On-chain value capture is being redefined, and that's the big deal. --- BTC is just swinging around; who still has the patience to watch? --- Liquidity tightening is the main driver; don't be fooled by false QE.

View OriginalReply0

SneakyFlashloan

· 22h ago

The Christmas market can't save this mess, is that all? BTC is just testing repeatedly there, so annoying Polymarket's self-built L2, even public chains are truly being abandoned By 2025, with this wealth effect, what else can we hope for? The Federal Reserve is playing both sides, and we're all on edge, really uncomfortable ETFs keep fleeing, who dares to chase now? This week is just about killing time, even whales are not moving I've said it before, it's not a trend, just a delaying tactic On-chain ecosystems are about to be reshuffled, major applications are fleeing It feels like the entire market pattern is about to change

View OriginalReply0