#比特币流动性 Market signals are starting to become interesting. Over the past two weeks, several developments are worth noting—

Dogecoin has been making significant moves. On-chain data shows that whales have been aggressively accumulating, absorbing nearly 1 billion DOGE. Meanwhile, community developer engagement has increased, and payment use cases have expanded threefold within six months. Technically, the situation looks even more promising—triangle breakout patterns have been established, and the buzz around the DOGE-1 satellite continues to grow. These signals, combined, suggest that things the traditional finance world can't understand are brewing in the crypto market.

But what's even more worth paying attention to is Ethereum. There are reports from European policymakers considering including Ethereum in the euro asset reserve system. In response, major mining giants have quickly followed suit, pouring $88.1 million into ETH accumulation. This clearly reflects that institutions and sovereign entities are positioning themselves—public blockchains are becoming strategic assets in the financial landscape.

On the macro front? Central banks are frantically buying gold, which says everything. Debt inflation and currency devaluation expectations are evident—these actions tell the market that physical assets are the real deal. Retail investors may seem to have many options, but by the time they truly wake up, they’re often already at the back of the line.

Economic data also sends another signal—although the rate-cut cycle is cooling, excess savings among residents are booming, and income continues to strengthen. Capital flows will inevitably find a destination; risk assets are no longer optional but essential. Plus, the accelerated issuance of virtual asset licenses in Hong Kong has shifted market sentiment from waiting-and-seeing to anticipation. Traders are already betting on key Bitcoin milestones in 2026.

The question now is in front of you: Can DOGE break through its all-time high? Is institutional accumulation of ETH foresight and insight, or just gambler’s psychology? With central banks’ vaults full, should we follow their lead or consider other perspectives? Share your judgment in the comments.