On December 1st, the market gave many people a resounding slap in the face.

Bitcoin has been stagnant for three days, and opened on Monday with a direct drop, breaking 87,000. What about the buying wave over the weekend? It now looks like a typical trap for the bulls. Ethereum is even worse, it rises quickly and falls fiercely, and the cost of emotional trading is fully reflected on the K-line.

The precious metals market is quite lively. Spot silver surged to $57 per ounce, setting a new historical record. Those who traded silver futures last Friday must be quite satisfied with this wave, right? Gold hasn't been idle either, with some institutions predicting that after the correction ends, it could climb to $4700.

On a macro level, the probability of the Federal Reserve cutting interest rates by 25 basis points in December on Polymarket has risen to 88%. Goldman Sachs is even more direct, stating that a rate cut is basically a done deal. With such clear policy expectations, the market has not responded positively, indicating that funds are observing deeper underlying issues.

Saylor has posted another Bitcoin Tracker update, and everyone understands this guy's tactic — every time he does this, it's basically a signal to increase his position. The Swiss central bank is also not holding back, owning over 750,000 shares of MicroStrategy, and the institutional entry stance is becoming increasingly obvious.

In terms of security incidents, Yearn's yETH was hacked, and 3 million dollars worth of ETH was transferred away. The security issues of DeFi protocols have always been a ticking time bomb.

That's how the market is; when it rises, everyone is a prophet, but when it falls, they realize they are just chives.