🌐 Global Market Cap: The total market cap has rebounded to about $3.25 trillion, growing approximately 2.5% in the last 24 hours. The market is attempting to break out of the mid-term downtrend since the beginning of October.
📶 Market Sentiment: Fear and Greed Index at 29, sentiment is leaning cautiously optimistic. The market is entering a 'digestion period', with investors' tolerance for macroeconomic uncertainty increasing, but trading activity remains focused on Bitcoin and Ethereum ahead of the Federal Reserve's interest rate decision.
💸 Funding and Liquidation
In the past 24 hours, market volatility has led to a large number of short positions being liquidated.
Total Liquidation Amount: In just the past hour, the total liquidation amount across the network has reached $137 million.
Long and Short Distribution: Shorts (bearish) were severely damaged, with short positions liquidated for $133 million; long positions liquidated for $3.39 million.
On-Chain Signals: A strong bullish signal is the continued depletion of retail Bitcoin supply. The number of 'shrimp' wallets holding less than 1 Bitcoin sending to Binance daily is only 400, setting a record low.
🔥 Today's Focus
The market is waiting for the Federal Reserve's decision, with Bitcoin hitting $94,000: On the day of the Federal Reserve's monetary policy meeting, Bitcoin's price fluctuated significantly, reaching a daily high of $94,500, but briefly falling below $92,000. By the close, Bitcoin returned to around $94,000, with an increase of approximately 4.14% over 24 hours.
Federal Reserve Announces Rate Cut of 25 Basis Points as Expected: The U.S. Federal Reserve concluded its monetary policy meeting on December 10, announcing a reduction in the target range for the federal funds rate by 25 basis points to between 3.5% and 3.75%. This decision aligns with market expectations.
Increasing Divisions Within the Federal Reserve, Cautious Wording in Statements: This meeting is considered a 'hawkish rate cut'. Despite the rate cut, significant divisions within the Federal Reserve were evident, with the statement emphasizing that inflation remains high and uncertainty about the outlook is significant, aiming to manage market expectations for future rate cuts.
Market Structure Shifts to 'High-Quality Risk': As the Nasdaq market cools, funds are shifting towards selective, high-quality risk assets. In the cryptocurrency market, this is reflected as funds rotate from altcoins to mainstream coins such as Bitcoin and Ethereum.
📊 Mainstream Coin Performance
As of the market close on December 10, the major cryptocurrencies performed as follows:
Bitcoin: Price approximately $94,000, 24-hour increase +4.14%.
Ethereum: Price $3,341.05, 24-hour increase +1.28%, achieving five consecutive days of increase. However, after the European and American trading hours, the price retreated and briefly fell below $3,300.
Solana (SOL) & BNB: The exact closing price and increase on December 10 were not provided in the search results.
🌟 Sectors and Hot Projects
Funds Focus on Mainstream Coins: During periods of high market uncertainty, traders' confidence is mainly concentrated on Bitcoin and Ethereum, while altcoins are neglected due to a lack of clear direction.
Market Hotspot Information: Today's search results did not mention any specific sectors or projects experiencing abnormal movements. Overall market attention is dominated by macro events.
🌍 Macroeconomic and Regulatory Dynamics
Federal Reserve's Policy Path Becomes the Focus: Market analysis indicates that future market fluctuations will become normalized and event-driven, as the Federal Reserve has lost valuable 'consensus' internally, leading to decreased predictability of policies.
U.S. CFTC Launches Crypto Collateral Pilot: The U.S. Commodity Futures Trading Commission has launched a pilot program allowing the use of Bitcoin, Ethereum, and stablecoin USDC as collateral in the derivatives market.
New EU Cryptocurrency Tax Regulations Will Take Effect: Starting January 1, 2026, the EU's DAC8 directive will take effect, requiring cryptocurrency exchanges, brokers, and others to report transaction data to the tax authorities in users' countries.
🐌 Market Insights
On December 10, the cryptocurrency market experienced significant fluctuations and emotional shifts around the most critical macroeconomic event of the year—the Federal Reserve's December interest rate decision. Bitcoin surged strongly before the decision, reflecting the market's full pricing of rate cut expectations. As the rate cut 'shoe' landed in a conforming 'hawkish' stance, the market entered a typical 'post-news confirmation' phase.
In the short term, the core contradiction in the market has shifted from 'Will there be a rate cut?' to 'Is this the end of the current rate cut cycle?'. The significant divisions within the Federal Reserve and the cautious wording in the statements aim to temper the market's optimistic expectations for rapid rate cuts in 2026. Therefore, although lower interest rates theoretically benefit risk assets, the market may instead become volatile due to 'good news being fully priced' and unclear future paths.
From a technical perspective, whether Bitcoin can confirm a breakout and stabilize in the resistance zone of $92,600 to $94,500 is crucial. Analysts have differing views on the year-end trend: on one hand, some predict that the 'Christmas rally' may not occur, with Bitcoin potentially ending the year below $84,000; on the other hand, some banks believe that the 'crypto winter' has become a thing of the past. Investors should closely monitor subsequent economic data this week for further impacts on Federal Reserve policy expectations.
