The cryptocurrency market is overall weak today, with Bitcoin fluctuating around $103,000, down more than 20% from last month's high, as the market enters a technical correction phase. The uncertainty of whether the Federal Reserve will cut interest rates in December has led to a conservative approach to funding, while rising global economic and geopolitical risks have also weakened investor confidence in risk assets. From a technical perspective, if BTC breaks below the $100,000 support, it may further test the $90,000 range. Ethereum is similarly under pressure, with a lack of short-term rebound strength. On-chain data shows that a large number of Bitcoin holders are in a loss position, reflecting a market sentiment leaning towards panic. However, some indicators also suggest that prices are approaching a mid-term 'value range', which may present opportunities for a phase rebound. Overall, the short-term trend remains predominantly bearish with fluctuations, and investors are advised to remain cautious, control leverage and positions, and wait for clearer macro policies and funding conditions.
ETHUSDT
Perp
2,960.19
-2.21%