Recent events in the crypto world worth paying attention to.

**Whale Movements Signal Bottoming**

According to on-chain data from Santiment, since mid-December, large holders and whales holding between 10 and 10,000 BTC have accumulated a total of 56,227 BTC on the market. What does this mean? Generally, large institutions and whales tend to build positions at the bottom, which may indicate that the market is in a local trough.

Meanwhile, the situation with Ethereum is also quite interesting. A major ETH holder has been consistently buying since early December this year, accumulating a total of 50,152 ETH, worth approximately $156 million. Yesterday, this individual withdrew 2,836 ETH (about $9.15 million) from the exchange platform, then transferred it to Aave for lending, lending out 6.2 million USDT and continuing to go long on the exchange platform. With this series of actions, the average cost of ETH has been lowered to $3,117.

**Macro Signals Show Mild Optimism**

From the macro perspective, 1,400 new Bitcoin ATMs were added globally in 2025, with Australia experiencing the fastest growth, indicating continuous improvement in cryptocurrency infrastructure.

Regarding the Federal Reserve, officials' statements vary. Balkin mentioned the need for "fine-tuning" between unemployment and inflation targets, while Milan is more hawkish, believing that interest rates should be cut by more than 100 basis points this year. According to CME’s FedWatch tool, the probability of a 25 basis point rate cut in January remains at 18.3%.

**Moderate Stock Market Uptrend**

The three major US stock indices all closed higher: Dow up 0.99%, Nasdaq up 0.65%, S&P 500 up 0.62%, with the Dow and S&P 500 both hitting new all-time highs. The overall macro market sentiment is becoming mildly optimistic.