<p>市場在聖誕周進入階段，軟件股票趨於穩定，加密貨幣從近期低點反彈，隨着假期臨近流動性將變得稀薄。</p>
<h3>軟件股票並沒有表現出被人工智能顛覆的跡象</h3>
<p>儘管關於人工智能顛覆的頭條新聞不斷，許多核心軟件公司 <strong>並沒有表現出其業務受到結構性損害</strong>。像 ServiceNow、Adobe、Salesforce 和 MongoDB 這樣的公司繼續實現經常性收入增長、強勁的續約率和擴大的利潤率，即使倍數在壓縮。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,quality=80,format=auto,onerror=redirect/uploads/asset/file/5b893e8c-210c-4f92-85c1-f98cbc37eff9/image.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,quality=80,format=auto,onerror=redirect/uploads/asset/file/5b893e8c-210c-4f92-85c1-f98cbc37eff9/image.png"/></p>
<p>也就是説，市場顯然在進行區分。與基於使用的模型或較慢的人工智能貨幣化相關的股票承受了更多壓力，而將人工智能直接嵌入工作流程的平台表現得更好。這不是盲目的樂觀，但也不是崩潰。市場表明，投資者正在討論_人工智能改變軟件經濟的速度_，而不是_這些公司是否能生存_。</p>
<h3>比特幣和以太坊嘗試反彈</h3>
<p>比特幣從 <strong>8 萬的低點</strong> 迅速反彈，目前交易價格約為 <strong>8.9 萬</strong>，而以太坊在跌入中 2,000 後已重新回到 <strong>3,000</strong>。這一走勢反映了在本月早些時候強制賣出和槓桿清算後風險情緒的穩定。</p>
<p>這種反彈是否會轉變為持續的趨勢仍不清楚。加密貨幣對流動性、利率和股市波動高度敏感，但從低點如此強勁反彈的能力使得長期看漲的觀點依然存在，即使短期內波動持續。</p>
<h3>聖誕假期的短周</h3>
<p>這是一個 <strong>假期縮短的交易周</strong>，美國市場在聖誕節當天關閉。預計流動性將變得稀薄，市場波動可能會在任一方向上被誇大。</p>
<p>歷史上，這一時期可能會帶來安靜的整合或劇烈的低成交量波動，因為在年末時頭寸減輕。對於投資者來説，這更多是關於風險管理而非預測，直到正常的交易量恢復。</p>
<p><strong><em>Benzinga 免責聲明：本文來自一位未付的外部貢獻者。它不代表 Benzinga 的報道，並且未經過內容或準確性的編輯。</em></strong></p>

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<p>市場正在穩定，因為軟件股票保持穩定，且加密貨幣從近期低點反彈。像 ServiceNow、Adobe、Salesforce 和 MongoDB 這樣的核心軟件公司儘管面臨人工智能干擾的擔憂，仍然顯示出增長。比特幣和以太坊已經反彈，反映出風險情緒的改善。由於假期縮短了交易周，流動性預計會減少，這可能導致市場波動加劇。建議投資者在正常交易量恢復之前，專注於風險管理</p>

<p><em>The market heads into Christmas week with software stocks stabilizing, crypto bouncing off recent lows, and liquidity set to thin as the holiday approaches.</em></p>
<div class="lb-trans"><p>市場在聖誕周進入階段，軟件股票趨於穩定，加密貨幣從近期低點反彈，隨着假期臨近流動性將變得稀薄。</p>
</div><h3>Software Stocks Are Not Trading Like They're Disrupted by AI</h3>
<div class="lb-trans"><h3>軟件股票並沒有表現出被人工智能顛覆的跡象</h3>
</div><p>Despite constant headlines about AI disruption, many core software names are <strong>not trading as if their businesses are being structurally impaired</strong>. Companies like ServiceNow, Adobe, Salesforce, and MongoDB continue to post recurring revenue growth, strong renewal rates, and expanding margins, even as multiples compress.</p>
<div class="lb-trans"><p>儘管關於人工智能顛覆的頭條新聞不斷，許多核心軟件公司 <strong>並沒有表現出其業務受到結構性損害</strong>。像 ServiceNow、Adobe、Salesforce 和 MongoDB 這樣的公司繼續實現經常性收入增長、強勁的續約率和擴大的利潤率，即使倍數在壓縮。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,quality=80,format=auto,onerror=redirect/uploads/asset/file/5b893e8c-210c-4f92-85c1-f98cbc37eff9/image.png" alt="" original-src="https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,quality=80,format=auto,onerror=redirect/uploads/asset/file/5b893e8c-210c-4f92-85c1-f98cbc37eff9/image.png"/></p>
<p>That said, the market is clearly differentiating. Stocks tied to usage-based models or slower AI monetization have seen more pressure, while platforms embedding AI directly into workflows are holding up better. This isn't blind optimism, but it's also not a collapse. The tape suggests investors are debating <em>how fast</em> AI changes software economics, not <em>whether</em> these companies survive.</p>
<div class="lb-trans"><p>也就是説，市場顯然在進行區分。與基於使用的模型或較慢的人工智能貨幣化相關的股票承受了更多壓力，而將人工智能直接嵌入工作流程的平台表現得更好。這不是盲目的樂觀，但也不是崩潰。市場表明，投資者正在討論_人工智能改變軟件經濟的速度_，而不是_這些公司是否能生存_。</p>
</div><h3>Bitcoin and Ethereum Attempt a Comeback</h3>
<div class="lb-trans"><h3>比特幣和以太坊嘗試反彈</h3>
</div><p>Bitcoin has rebounded sharply from the <strong>80k lows</strong> and is now trading around <strong>89k</strong>, while Ethereum has reclaimed <strong>3,000</strong> after dipping into the mid-2,000s. The move reflects a stabilization in risk sentiment after forced selling and leverage flushes earlier this month.</p>
<div class="lb-trans"><p>比特幣從 <strong>8 萬的低點</strong> 迅速反彈，目前交易價格約為 <strong>8.9 萬</strong>，而以太坊在跌入中 2,000 後已重新回到 <strong>3,000</strong>。這一走勢反映了在本月早些時候強制賣出和槓桿清算後風險情緒的穩定。</p>
</div><p>Whether this turns into a sustained trend is still unclear. Crypto remains highly sensitive to liquidity, rates, and equity volatility, but the ability to bounce this hard off the lows keeps the longer-term bull case alive, even if near-term chop persists.</p>
<div class="lb-trans"><p>這種反彈是否會轉變為持續的趨勢仍不清楚。加密貨幣對流動性、利率和股市波動高度敏感，但從低點如此強勁反彈的能力使得長期看漲的觀點依然存在，即使短期內波動持續。</p>
</div><h3>Short Week Ahead With Christmas Closure</h3>
<div class="lb-trans"><h3>聖誕假期的短周</h3>
</div><p>This is a <strong>holiday-shortened trading week</strong>, with U.S. markets closed on Christmas Day. Liquidity is expected to be thin, and moves can be exaggerated in either direction.</p>
<div class="lb-trans"><p>這是一個 <strong>假期縮短的交易周</strong>，美國市場在聖誕節當天關閉。預計流動性將變得稀薄，市場波動可能會在任一方向上被誇大。</p>
</div><p>Historically, this period can bring quiet consolidation or sharp, low-volume moves as positioning lightens into year-end. For investors, it's more about risk management than prediction until normal volume returns.</p>
<div class="lb-trans"><p>歷史上，這一時期可能會帶來安靜的整合或劇烈的低成交量波動，因為在年末時頭寸減輕。對於投資者來説，這更多是關於風險管理而非預測，直到正常的交易量恢復。</p>
</div><p><strong><em>Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.</em></strong></p>
<div class="lb-trans"><p><strong><em>Benzinga 免責聲明：本文來自一位未付的外部貢獻者。它不代表 Benzinga 的報道，並且未經過內容或準確性的編輯。</em></strong></p>
</div>

Software Holds Ground, Crypto Rebounds

- 市場在聖誕週中，軟件股票穩健，科技股也有反彈。  
- 比特幣從 80k 降至 89k，Ethereum 重回 3,000。  
- 預計流動性稀薄，市場波動可能加劇。

軟件市場保持穩定，而加密貨幣市場出現反彈