The recent crypto market has been quite interesting. Bitcoin has been fluctuating around $87,700, while Ethereum is also oscillating around $2,945, with intraday volatility not exceeding 2%. Basically, the lack of liquidity during the holiday and the Christmas market closure have resulted in no clear trend. However, it’s worth noting that on the 26th, there are $23.7 billion worth of Bitcoin options expiring, which could cause some short-term volatility. Such timing often leads to fund reallocations and position adjustments. On the platform side, things are very lively. Taking advantage of the holiday atmosphere, various platforms are launching Christmas activities, offering generous rewards for both new and existing users. The event scale is quite substantial, helping to boost activity during this typically quiet period. For traders, this is a time to watch out for potential volatility from options expiry, and also to check out the platform’s promotional offers—don’t miss out on either.

Many people enter the crypto world, but in the end, they all become victims of the "leek" phenomenon. This sounds uncomfortable, but looking at the people around us makes it clear—some get rich overnight through contracts, while others lose everything just as quickly. What's the difference? It's not technology; it's mindset. **Why is it so easy to lose money on contracts?** Studying candlestick charts during the day and watching the market until dawn at night, yet still ending up with losses. This is the norm for many. Where does the problem lie? To put it bluntly, the design logic of high-leverage contracts is inherently unfavorable to retail traders. Exchanges can see the positions of market participants, and big data-driven liquidations are less conspiracy theory and more market reality. Some might say: "I doubled my money with contracts!" That's true. But how many can double their money continuously for a month? Among contract traders I know, the final outcomes usually fall into two categories: either they lose everything and exit, or they lose so much that they start selling courses to cut others. Want to survive in the contract trading world? There are three iron rules you must follow: - Never use more than 3x leverage. The higher the leverage, the faster you die. - Stop-loss levels must be strictly enforced. Limit single trade losses to within 2%. - Take out the principal first when you make profits, and then let the remaining profits roll over. **Spot trading is the real business** In a bull market, everyone looks like an expert, but how many can still smile during a bear market? Most people's losses are not because they bought the wrong coins, but because they kept entering the market during major sell-offs. When Bitcoin hit 69,000 in 2021, countless positive news flooded the headlines, yet many got trapped at the top. The key to making money in spot trading is not about how precise your entries are, but about holding your positions. More accurately, it's about being able to hold "cash." It sounds contradictory, but that's the truth—the reason most people lose money is because they can't resist going all-in. The actual strategy is simple: once you've chosen your coins, deploy in batches; take profits when targets are reached; keep a small portion in reserve for future opportunities. Even if the market drops later, your psychological pressure won't be overwhelming, allowing you to stay calm and judge subsequent opportunities more clearly. **Mindset is more valuable than technique** Ten years of trading, experiencing margin calls, insomnia, and self-doubt. The final realization is: gambler's mentality is the most expensive tuition in the crypto world. Those who are truly doing well in this market share one thing in common—not necessarily advanced skills, but self-control: knowing when to stop loss, when to go to cash, when to take profits. Mainstream coins like Bitcoin and Ethereum haven't changed their long-term logic. But if you want to precisely buy the dip or sell the top in short-term fluctuations? Honestly, the exchange's algorithms are smarter than you. Instead of stubbornly relying on technical indicators, it's better to learn when to rest.

PIPPIN has started to send signals again. Observing the daily chart, after a full day of sideways consolidation, there are obvious signs of abnormal movement in the capital flow. From the current technical perspective, the bullish momentum is accumulating, and the probability of continued upward movement is quite promising. Adding positions at the key support level of 0.48 is a good idea. Based on the current momentum, if this upward trend can be established, there is at least a chance to see resistance around 0.58. Of course, the market is ever-changing, so close attention to trading volume is still necessary. Recently, the entire crypto market's rhythm has been focused on macro factors. The Federal Reserve's policy moves remain a key variable influencing the overall market. The performance of major coins like ETH and SOL also, to some extent, reflect market expectations for future liquidity. Position management and risk control should never be relaxed.