At 8 o'clock on December 1st, Beijing time, the ChaiNext 100 index reflecting the overall trend of the cryptocurrency market was reported at 671.19 points, down 2.71% in the past 24 hours, with a turnover of US $ 35.918 billion, and the turnover decreased by 13.64% compared to the previous 24 hours. Eleven of them rose and 89 fell; the ChaiNext 5 index, which reflects the performance of blue-chip cryptocurrencies at the broader market, reported 588.56 points, a decline of 2.73% over the past 24 hours, and a turnover of 28.919 billion US dollars, a decrease of 14.67% from the previous 24 hours. The Bitcoin Bubble Index ( BBI index) was reported at 78.60 points, down 0.81% over the past 24 hours; the USDT OTC Index (USDT OTC Index) was reported at 99.67 points, down 0.15% over the past 24 hours. After the bitcoin test of 7800 failed yesterday, it fell back to around 7500 and maintained a narrow range of shocks. At present, the overall market sentiment is still relatively sluggish, the contract position has not been able to break through, and the key bitcoin long-short ratio has also remained low. However, as the negative impact gradually dissipates, and currently the bitcoin price is still relatively low relative to the cost of mining. Although the short-term fluctuation risks are greater, it is not a good time to leave the market and wait for further development.