#BTC资金流动性 On Monday morning, the new week has arrived as expected. To be honest, the market has indeed seemed a bit dull these past two days.

**Current Status of Mainstream Cryptocurrencies**

$BTC did not surprise everyone this weekend, but the good news is that it did not drop excessively; instead, it has shown a high-level consolidation trend. The impact of the Christmas holiday is still present, and the performance during weekdays is key. $ETH has become active recently, surprisingly standing above the 3000 mark, but in the end, it still needs to follow in the footsteps of the big brother. As for $SOL, the fundamentals have been progressing in a positive direction, but whether it can trigger a new round of market activity will depend on future performance—though it is said that good fundamentals often do not equate to a price surge.

**Safety and Macroeconomic Dynamics**

It is worth noting that North Korean hackers stole $2.02 billion in cryptocurrency in 2025, setting a historical record, which reflects that ecological security pressures still exist. On the other hand, Dfinity executives stated that blockchain and no-code tools are challenging the traditional landscape of cloud computing, bringing new imagination to the industry. Do you remember when $ICP was nearly 10U not long ago? It has now dropped to around 3U, illustrating the volatility of the market.

**Whale Actions and Strategy Adjustments**

There is an interesting phenomenon: a senior executive from a leading exchange has once again released information about Bitcoin Tracker, suggesting a possible continued accumulation of BTC. This guy seems to have only learned one skill – buy, buy, buy. Meanwhile, Northern Data is selling its Bitcoin mining business, and the buyer's background involves executives from Tether, indicating that such large capital operations are frequent. Even more exaggerated, a co-founder of a large mining pool once tentatively transferred 500 BTC to a suspicious address, and in the end, the hacker only took away 490 coins. This wave of operations must be said to require enough "family wealth" to dare to play like this.

**On-chain data and changes in trading patterns**

According to data analysis, Solana is evolving into a liquidity layer, with on-chain SOL-USD trading volume exceeding the spot trading volume of SOL on a leading exchange for three consecutive months. This indicates that the importance of DEX and on-chain trading is increasing, and the monopoly position of centralized exchanges is being eroded.

**Policy and Market Sentiment**

Comments from Federal Reserve officials regarding inflation data continue to attract attention. The latest statements indicate that there is no room for interest rate cuts in the coming months, and there is increasing concern over persistently high inflation, which has a direct impact on risk pricing in the crypto market. Meanwhile, there are viewpoints suggesting that the Trump administration may seek data-dependent candidates for the Federal Reserve chair position, and the policy direction is filled with uncertainties.

**Sector Performance and Outlook**

The three worst-performing sectors so far in 2025 are DeFAI, Modular, and DeSci, reflecting a decline in market enthusiasm for certain tracks. However, different voices are emerging — some institutions predict that 2026 will be a "golden year," with inflation expected to return to zero levels. Vitalik has also expressed new views, suggesting that prediction markets are the "antidote" to social media, providing a more rational aggregation of public opinion.

**Market Deep Logic**

Observing the entire ecosystem, an interesting phenomenon emerges: behind all the flashy operations, it is often the logic of small horses pulling big carts and small money achieving big things. Those players who spent a lot of money have long clocked out, while traders looking to pump up spot prices are having a hard time—big funds have shifted their trading methods to contracts or on-chain, with decentralization deepening continuously. This evolution of the pattern may be reshaping the liquidity structure of the entire ecosystem.