From 00:00, within 41 minutes, the price of ETH plummeted from $3107 to $3010, a drop of 3.14%.

Want to set sail in the market? Liying is here to share a little secret, navigating together with everyone, letting the ship of dreams ride the winds and waves, heading towards the shores of success!

Want to set sail in the market? Liying is here to share a little secret, navigating together with everyone, letting the ship of dreams ride the winds and waves, heading towards the shores of success!

Want to set sail in the market? Liying is here to share a little secret, navigating together with everyone, letting the ship of dreams ride the winds and waves, heading towards the shores of success!

Want to set sail in the market? Liying is here to share a little secret, navigating together with everyone, letting the ship of dreams ride the winds and waves, heading towards the shores of success!

You can follow the public account "I am Liang Qiu a," which focuses on guidance and layout for mainstream coins.

Ethereum abandons POW for POS, avoiding the AI energy competition, low-consumption nodes lay the foundation for the virtual world, and the transformation of consensus is timely.

On December 4th, a bill worth $236 million was heavily slammed on the table of the U.S. cryptocurrency ETF market. This figure represents the total net outflow of funds from spot Bitcoin and Ethereum ETFs on that day, with Bitcoin ETFs alone accounting for $194.6 million. A chill seems to be quietly spreading from the trading terminals of Wall Street to the entire crypto world.

On December 5, 2025, the crypto market held its breath. The key PCE inflation data was about to be released, combined with macro expectations that the Federal Reserve's liquidity buffer might be exhausted, creating a subtle tension in the air. Everyone's attention was focused on one side of the scale—MicroStrategy and its holdings of approximately $60 billion worth of Bitcoin.

From the daily chart perspective, the selling pressure at the 94,000 position for Bitcoin is quite severe.

When many native crypto VCs indulge in narrative-driven and short-term speculation, they face the dilemma of a mismatch between value capture and risk-taking. The trading instincts, secondary market hedging capabilities, and emphasis on stablecoin cash flow demonstrated by Dragonfly precisely return to the old rules of long-cycle dollar funds.

Today is December 5, 2025. Exactly two years ago, the Aster project executed an action that would be recorded in its development history: the destruction of tokens worth approximately 80 million dollars, and the first announcement of its ambitious plan for a Layer 1 blockchain aimed at 2026. At that time, the market interpreted it as a beautiful combination of "short-term value management" and "long-term narrative building." Now, two years later, with the dawn of 2026 in sight, it is time to revisit this commitment. This article will delve into a retrospective analysis.

Market Analysis