A certain exchange Ventures: Year-end position adjustments dominate market sentiment, with structural narrative sectors performing relatively better

According to the latest crypto weekly report released by a certain exchange's Ventures, due to year-end capital adjustments and changes in macro expectations, the crypto market's sensitivity to risk fluctuations has increased. The Fed cut interest rates by another 25 basis points and released a dovish signal, providing support for liquidity, but overall risk appetite remains cautious, with mainstream assets maintaining range-bound volatility.

In terms of market performance, Bitcoin fell 2.47% over the week, while Ethereum remained basically flat, and the ETH/BTC ratio saw a slight rebound. However, the Fear and Greed Index remains in the "extreme fear" range, reflecting weak short-term sentiment. Under the overall pressured environment, some narrative sectors stood out. Mantle was boosted by news of AI trading and liquidity cooperation, rising nearly 18% during the week; meanwhile, progress such as Solana Firedancer going live on mainnet shows that Web3 underlying performance and interoperability infrastructure are still being advanced. In venture capital, the total disclosed financing amount this week slightly decreased to $188 million, with funds mainly concentrated in infrastructure, artificial intelligence, and liquidity abstraction sectors.

The exchange's Ventures pointed out that as macro uncertainty and year-end rebalancing continue to affect market behavior, the crypto market may continue to remain range-bound in the short term. Projects with clear use cases, lasting demand, and infrastructure-level relevance are expected to be more capable of attracting sustained capital attention.