The cryptocurrency market has indeed been quite quiet over the past two days. Due to expectations of US regulatory actions, escalating geopolitical tensions, and the typically low trading volume at year-end, the entire market has been trending downward.

Currently, Bitcoin is oscillating between $89,000 and $90,000, with a 24-hour decline of 3-4%, and it even briefly broke below $89k. Ethereum's performance is worse, shrinking by 5-7% around the $2,900-$3,000 range. Looking at the overall market, the total market capitalization has fallen back to the $3.0-$3.1 trillion level, with trading volumes significantly shrinking and a strong sense of panic prevailing. Leveraged positions liquidated have exceeded $1 billion, wiping out much of the gains accumulated earlier this year.

However, from a long-term perspective, the narrative of Bitcoin's scarcity remains unchanged, and the overall institutional deployment remains steady. Many still target over $150,000, and Ethereum is expected to challenge the $4,000 mark. The current pullback actually provides cautious investors with opportunities to accumulate at lower levels.

Strategically, the following approach is recommended: In the short term, if BTC can hold the support at $88,000, consider gradually adding small positions, aiming for a rebound zone of $92,000-$93,000. As long as ETH stays above $2,900, avoid selling too quickly. Leverage should be strictly avoided, and setting a stop-loss at $88,000 is more prudent. Core holdings should focus on BTC and ETH (accounting for 60%), with SOL, XRP, RWA concept tokens, and stablecoins as auxiliary allocations, as these have performed relatively well recently. Meme coins and other high-risk assets can be set aside for now, and re-enter once market sentiment improves.

Additionally, it is worth paying attention to the tokenization trend, which could become the engine of the next super cycle. In summary, manage risks carefully, view volatility rationally, and this correction may not necessarily be a bad thing.