Encryption in December welcomes "opening black", with hawkish comments from the Bank of Japan and other factors possibly triggering this round of fall.

On December 1, the crypto market experienced a “black opening” in December, with Bitcoin, Ethereum, and other mainstream tokens falling more than 5% in nearly 3 hours. On the news front, Bank of Japan Governor Kazuo Ueda stated that if the forecasts for economic activity and prices are realized as expected, the Bank of Japan will continue to raise policy interest rates based on improvements in the economy and prices. This statement triggered a widespread decline in the Asia-Pacific stock market in the early session. Trump stated yesterday that he has finalized the nominee for the chair of the Fed. Last night, foreign markets reported that Fed Chair Powell would announce his resignation at an emergency meeting to be held at 7 PM Eastern Time on Monday. Additionally, the People's Bank of China held a meeting on November 28 to coordinate efforts to combat speculation in virtual currency trading. The meeting emphasized that virtual currencies do not have the same legal status as fiat currencies, do not have legal tender status, and should not and cannot circulate as currency in the market. Activities related to virtual currency are considered illegal financial activities. Stablecoins are a form of virtual currency, and currently cannot effectively meet customer identification, AML, and other requirements, posing risks of being used for money laundering, fundraising fraud, and illegal cross-border fund transfers.