#以太坊行情解读 $ETH's recent performance indeed has several support points from both a regulatory and seasonal perspective. After the tax-loss harvesting wave in mid-December ( comes to an end, that portion of funds should gradually return to the market. The holiday effect is also quite evident—decreased institutional participation and shrinking Trading Volume, in such an environment, even a small amount of buying can pump the index, and short-term Volatility is kept very low. Additionally, with year-end bonuses being released and passive allocation funds like 401k automatically deducted, the market is not lacking in buying support.

From the trading volume data of Bitcoin, it finally dropped over the weekend. What does this indicate? The trading volume of real holders is indeed quiet, and the usually high turnover rate is likely just the antics of quantitative trading or high-frequency short-term players. The weekend is a true reflection of the changes in the holdings of large traders. However, after entering the Christmas cycle, the trading volume and turnover rate should continue to decline.

This wave of Christmas market can be described as a rehearsal for Q1 2026. With multiple factors such as seasonal boosts, emotional vacuum, and gradually restored liquidity, if the market still fails to form an effective upward trend, the problem may not lie in the sentiment — but rather that high interest rates have suppressed the economy more than the positive impact of the holiday sentiment.

From a technical perspective, a pullback in the range of 3003-2977 can be considered for entry, and for a rebound, pay attention to the 3050-3098 range as a target.