Recently, the two signals are quite interesting and may be quietly changing the rules of the game.

Let’s first talk about the regulation side. The new chairman of the SEC, Gary Gensler, has made a statement—an innovation exemption for crypto companies will be implemented in January next year. What does this mean? It means that the compliance restrictions that have troubled project teams in the past are now being eased. The pressure on the industry is being lifted, and the space for innovation is directly opening up.

What’s even more explosive is that the attitude of those people on Wall Street has changed. The wealth management division of American banks is now seriously suggesting clients allocate 1%-4% of their assets into digital currencies. You did not misread that; traditional major banks are starting to actively promote this. Moreover, starting from January 5, they will also cover research on four Bitcoin ETFs — products from Bitwise, Fidelity, Grayscale, and BlackRock are all on the list. Institutions are not just testing the waters; they are laying down real money.

Regulatory easing and major banks entering the market. The timing of these two events is somewhat delicate. Will the market experience a new wave of fluctuations because of this? If traditional capital really begins to systematically allocate, the story of liquidity may be quite different.

Do you think this counts as a sign of a cyclical turning point? Should the positions in hand be adjusted accordingly?