On January 7th, the global financial markets sent clear positive signals. In the US stock market, the Dow Jones Industrial Average hit a record high, and the S&P 500 also rose accordingly. Technology and energy stocks led the gains, and market appetite for risk assets has noticeably recovered.

At the macroeconomic level, policy actions are worth noting. The central bank conducted 28.6 billion yuan of 7-day reverse repurchase operations, resulting in a net withdrawal of 500.2 billion yuan on the same day; Federal Reserve officials are also warming up for a possible rate cut in 2026, mentioning a reduction of over 100 basis points in their statements, which signals a dovish expectation to the market. However, manufacturing remains challenging, with the December ISM Manufacturing PMI falling to 47.9, remaining in contraction for ten consecutive months.

Geopolitically, there have been changes in Venezuela's political situation, and the UK and France plan to deploy troops to Ukraine after a ceasefire in the Russia-Ukraine conflict. These uncertainties have increased the appeal of safe-haven assets. Gold spot prices rose over 2.6%, while copper prices, due to supply concerns, broke through the $13,000 per ton mark for the first time. Meanwhile, international oil prices declined.

In the cryptocurrency market, these global sentiment shifts are clearly reflected. Bitcoin once surged above $94,000, with an intraday increase of over 2.8%; Ethereum also performed strongly, rising 2.9% to a price of $3,237.8. From a driving force perspective, the new highs in US stocks ignited investor enthusiasm for risk assets, and this momentum naturally extended into the cryptocurrency space. Additionally, the strengthening of expectations for Federal Reserve rate cuts further reinforced market expectations for liquidity easing, providing strong support for risk assets led by Bitcoin. In short, the global risk sentiment recovery, combined with expectations of loose monetary policy, is creating a favorable environment for the upward movement of the cryptocurrency market.