🌐 Global market cap: 3.26T, up 2.7% within 24 hours, showing a volatile rebound ahead of the Federal Reserve's interest rate meeting.
📶 Market sentiment: Fear and greed index 25, sentiment shifts from cautious to optimistic. The morning market was under pressure due to weak liquidity and cautious sentiment, but as the Federal Reserve's decision approaches, buying pressure enters the market, leading to a significant rebound in the evening.
💸 Funds and liquidations
In the past 24 hours, market fluctuations have led to a large number of leveraged positions being liquidated.
Total liquidation amount: Total liquidation amount across the network is 280 million USD.
Number of liquidations: A total of 96,599 traders were liquidated.
Major cryptocurrencies: Bitcoin and Ethereum remain the main contributors to liquidations.
🔥 Today's Focus
The market first declined then rose, waiting for the Fed's decision: Bitcoin briefly fell below the key psychological support of $90,000 in the morning, but rebounded strongly during the European and American trading sessions, breaking through $94,500 at its peak, ultimately closing around $92,900. The market generally expects the Fed to cut rates by 25 basis points at the meeting on December 10, with Chairman Powell's forward guidance seen as a more important source of volatility than the rate cut itself.
Ethereum whales spend hundreds of millions of dollars on long positions: On-chain data shows that several well-known whales have accumulated long positions in Ethereum worth over $425 million after the price rebounded above $3,100, indicating strong confidence in the market's future.
Traditional financial giants continue to deepen their cryptocurrency layout:
Vanguard officially allows its U.S. platform clients to trade ETFs and mutual funds of cryptocurrencies such as Bitcoin and Ethereum.
European asset management giant Amundi has launched tokenized shares of its flagship euro cash fund on Ethereum.
The U.S. CFTC (Commodity Futures Trading Commission) launched a pilot program allowing Bitcoin, Ethereum, and USDC to be used as collateral for derivatives trading.
📊 Mainstream Coin Performance
As of December 10, 0:00, major cryptocurrencies rebounded significantly from their intraday lows:
Bitcoin: Price $92,900, 24-hour increase +2.48%.
Ethereum: Price $3,332, 24-hour increase +6.69%.
Solana: Price around $132.
BNB: Price around $891.
🌟 Sectors and Hot Projects
Leading gainers among altcoins: in the market rebound, some altcoins performed outstandingly. ZEN, LUNA, AXL, and others all had 24-hour increases exceeding 17%, indicating a high market risk appetite.
U.S. stocks related to cryptocurrencies rose broadly: driven by a rebound in the cryptocurrency market, related companies in the U.S. all closed higher. Among them, BitMine Immersion rose 9.32%, Circle rose 5.93%, and Strategy Inc. rose 2.89%.
🌍 Macroeconomic and Regulatory Dynamics
Global bond market yields rise, putting pressure on risk assets: Japan's 10-year government bond yield approaches a 20-year high, and the widespread rise in global bond yields puts pressure on risk assets such as cryptocurrencies.
Chinese regulators reiterated a cautious attitude: The chairman of the China Securities Regulatory Commission, Wu Qing, recently stated that new forms of business, such as crypto assets, should be deeply assessed and treated cautiously, emphasizing that 'we will not engage in business that we cannot see clearly or regulate.'
🐌 Market Insights
On December 9, the cryptocurrency market experienced a typical 'event-driven pre' market. Ahead of the Fed's final interest rate decision of the year, market sentiment was cautious, and liquidity was thin, leading to pressure on prices in the morning session. However, as the decision time approached, some funds chose to position early, driving the market to achieve a strong V-shaped rebound in the evening session, recovering the day's losses and closing significantly higher.
The large-scale long behavior of whales in Ethereum and the continuous compliance efforts of traditional financial institutions provide solid medium to long-term confidence for the market. Technically, Bitcoin regaining the $92,000 level is crucial; if it can hold, the next target will aim directly at the previous high of $94,500. In the short term, the direction of the entire market will be shaped by the Fed's rate decision and Powell's press conference on December 10, with any signals deviating from the market's 'dovish' expectations potentially triggering sharp fluctuations.
