#加密货币市场趋势 Looking back on the past, I can't help but feel a surge of emotion. How many times have we witnessed the huge ups and downs of the crypto market? Now, we are facing a new potential wave of recovery. Coinbase's latest report reminds us of the crazy bull market in 2017, when liquidity improvements and institutional entry also drove the market. However, after several cycles, we should all understand that any prediction must be approached with caution.

A 92% probability of rate cuts is indeed encouraging, but don't forget the lessons of 2018 – excessive optimism often signals a bubble. Indicators like the M2 index and the dominance of stablecoins are worth paying attention to, but more importantly, focus on actual applications and adoption. Is Bitcoin undervalued? Maybe, but the selling by long-term holders could indicate deeper issues.

What we need to do is learn from history and stay rational. Don't be blinded by short-term fluctuations; instead, focus on long-term development. Whether December truly marks a recovery or not, the future of crypto ultimately depends on how much value it can bring to the real world. Let's wait and see, but also be prepared for all possibilities. After all, in this market, the only constant is change itself.