2025.12.23 Daily Report

Yesterday, both the US stock market and BTC rebounded. In the upcoming Christmas market, as long as the US stocks can continue to maintain their upward momentum, BTC's performance won't be too bad.

From on-chain data, BTC turnover rate is increasing, mainly due to some short-term profit-taking investors selling, while most investors with losses at high levels are watching on the sidelines, so selling pressure is not significant.

Yesterday, Trump Media, under Trump, bought another 450 BTC, bringing their total holdings to 11,542 BTC.

Ethereum's MicroStrategy BMNR increased its ETH holdings by 98,852 ETH last week, with an average purchase price of $2,976.

They now hold over 4 million ETH, with an average cost basis of $3,884, currently showing an unrealized loss of $3.37 billion.

From a macro perspective, the global money supply has risen to a record high of $45 trillion.

China is the main driver, with M1 money supply reaching a historic high of $16.5 trillion, accounting for 37% of global growth.

The US M1 money supply (excluding savings deposits) also reached a record $8 trillion this year, representing 18% of the global total.

This indicates that global liquidity is continuously expanding. At this time, our best choice is to embrace core assets, such as high-quality US stocks, gold, and BTC.

In the short term, December is the holiday season for Christmas and New Year in North America, with the worst market liquidity and increased volatility.

But in the medium to long term, the main direction still depends on the Federal Reserve's monetary policy.

Several key data will be released this week, such as the US GDP growth rate and the PCE price index (which is the Fed's most concerned inflation indicator).

These data will directly influence the Fed's decisions and are the focus of everyone's attention.