The market is focused on the Federal Reserve's December policy meeting and the Ethereum Fusaka upgrade. For the Fed meeting, with results to be announced early tomorrow morning, the market is not only watching whether a 25 basis point rate cut will materialize, but is also paying close attention to statements on the future path of rate cuts in the policy announcement. Continuous signals of rate cuts could trigger a new round of gains in cryptocurrencies.

Hawkish wording may cause a short-term pullback but is unlikely to change the medium-term easing trend. The effects of Ethereum's Fusaka upgrade, activated on December 3, are gradually emerging. PeerDAS technology has increased Layer-2 data capacity by 8 times, and the BPO fork mechanism has reduced operating costs, leading to about a 60% drop in Layer-2 transaction fees. The Ethereum balance on exchanges has fallen to 18 million coins, a new low since 2018, with tightening supply supporting prices. On-chain data shows increased activity in DeFi protocols and DApps, and accelerated ecosystem expansion.

In addition, mergers and acquisitions in the cryptocurrency industry have hit record highs, with accelerated integration and a pronounced leading effect. The US SEC Chairman’s remarks in an interview that "the entire financial system will shift to Bitcoin and cryptocurrencies within a few years" also sent a positive signal. $BTC $ETH #十二月行情展望