The rebound from Friday hasn’t even warmed up yet, and now you hit us with a black opening.

The trading volume in Asia during the early session is already thin, and BTC was directly smashed through $87,000 by stop-loss orders— the wounds left from last month's washout have yet to heal, and the market sentiment was already on edge; the pile of issues that emerged this weekend completely snapped the tension.

First, the staking function of the established DeFi project Yearn was hacked, and then a certain DEX terminal (Terminal Finance) directly announced the abandonment of its original launch plan due to "the market environment being too harsh." Even more explosive is Arthur Hayes publicly pessimistic about Monad's ICO, implying that there is a 99% downside potential for this thing—just think about that number. The S&P also isn't quiet, lowering the rating of USDT to "weak," citing insufficient transparency in information disclosure. Oh right, the People's Bank of China reiterated its cautious stance on crypto trading and stablecoins.

Several pieces of news stacked together, and the answer is obvious: the bear market atmosphere cannot be shaken off in the short term.

But the atmosphere in the traditional market is completely different. The S&P 500 surged 3.7% last week, with the semiconductor sector leading at 5.4%, and retail stocks also rising by 4.7% — even though the overall trading volume has shrunk, these favored stocks can still achieve a strong Rebound.

Black Friday's data is a slap in the face to those who are pessimistic about consumption: online sales soared to a historical high of $12 billion, a year-on-year increase of 9%. Cyber Monday is expected to contribute about $14 billion more.