1. U.S. stock markets closed, with all three major indices declining; the Nasdaq dropped 2.3%, the Dow fell 1.6%, and the S&P 500 decreased by 1.6%. The entire U.S. stock market's crypto-related stocks fell across the board.

2. Federal Reserve officials took a hawkish stance before releasing important economic data, with several policymakers expressing negative opinions on a rate cut in December. According to CME FedWatch, the probability of a 25 basis point rate cut in December has fallen to 51.6%, and these views have led to overall market panic. Back in the crypto space, the market has once again declined, with a total market value dropping by nearly 2% in the last 24 hours, now reporting 3.45 trillion USD, Bitcoin has fallen to 98000, and Ethereum has dropped below 3200.

3. It has come to the moment of testing confidence, and everyone is discussing whether there will be a continued decline into a bear market, and whether there will be a Christmas rally. But basically, it is very difficult for anyone to make a judgment because this is the junction point between bull and bear markets. Even very strong traders would find this segment particularly challenging, with a strong bullish candle every 5 seconds and a strong bearish candle every 10 seconds.

4. Last night, Trump announced the reopening of the government, and combined with the fact that economic data for October will not be published, a host of uncertain factors have led many investors to feel a reduced risk appetite, thinking it's best to retreat first. Additionally, as the year-end approaches, basically everyone who should have retreated has retreated, just like you usually need to save some money for the new year.

5. Grayscale has submitted an IPO application to the SEC in the United States. If it goes public, it would actually be a good thing, attracting attention from outside the cryptocurrency space.