#美联储降息 Last night's market was a bit tough, and my mood fluctuated accordingly.

Having been in the crypto space for seven or eight years, I suddenly realized that my understanding seemed to have returned to zero. But upon reflection, this circle is truly the largest learning platform accessible to ordinary people— as long as you're willing to think and stay up late, you can encounter things that others will never learn in their lifetime.

You need to keep an eye on what the Federal Reserve is doing—whether they raise or cut interest rates, CPI data, PPI fluctuations, non-farm payrolls, the dollar index trend, capital flows... each one affects the rhythm of the market. Technical aspects like options expiration and clearing require thorough research.

Looking on-chain, details like AMM automated market maker mechanisms, gas fee optimization, trading depth comparison, fee differences, whale address holdings and movements... if you don't understand these details, it's easy to get caught in traps. Plus, with halving cycle models, ETH burn rates, and the regularity of Bitcoin's historical trends, you need to keep all these in your mind.

On the technical side, macro frameworks like cycle theory, Kondratiev waves, bull-bear switching, and the four-year halving rule must be clear. Then there are wave theory, Fibonacci, KDJ indicators, fake breakout identification, chip distribution, support and resistance levels, double bottom and double top patterns... all technical analysis methods need to be mastered. In terms of trading strategies, trying low buy and high sell, FOMO chasing, contrarian thinking... you need to experiment with everything to find what suits you best.

Keep an eye on SEC hearings, ETF approval progress, policy changes during major trading hours... regulatory trends can't be neglected.

Regarding coin selection, you should have a basic understanding of BTC, ETH, SOL, OP, ARB, GameFi projects, MEME coins... mainstream assets are a must. Don't ignore the mining sector either—mining hardware costs, hash rate chips, mining farm yields, the entire industry chain needs to be understood. Be familiar with public chain ecosystems, sidechain solutions, cross-chain bridges, stablecoin mechanisms, lending protocols... these infrastructure components are essential.

Advanced strategies like AI empowerment, RWA (real-world asset) on-chain, quantitative trading, arbitrage strategies, market maker models... only by experiencing these can you gain influence and authority.

Then there's the rhythm of information acquisition—I follow big V opinions, scroll through Twitter updates, and participate in Discord and Telegram communities. On-chain address queries, contract code analysis—neglecting any of these could lead to surprises.

Even small details like grayscale's reduction, BlackRock's replenishments, new tokens listed on exchanges, whale address sell-offs—must not be missed. Push notifications on your phone must be turned on. I track movements of billion-dollar whales and study the bottom-fishing rhythm of multi-billion funds. Even if I suffer huge losses, I aim to grasp institutional accumulation patterns.

Honestly, this circle has given me a doctoral-level lesson—10,000 yuan of principal can teach you all about liquidation, the heartbeat of chasing highs, the fear of topping out, the illusions of taking profits... all becoming textbooks for understanding life and finance. Neither gambling nor drugs can attract you anymore because the thousands of dollars' fluctuation within minutes keeps your nerves constantly tense.

I told myself back then, this is probably the opportunity of my life. Though still unknown, the hope of getting rich quick is right in front of me. When the market rises, stop complaining.

Recap of the early morning of December 12, 2025