🌐 Global Market Value: 3.24T, the total market value has increased by approximately 70 billion USD, rebounding to about 3.24 trillion USD. The market overall shows a slight increase, with Bitcoin holding steady above 92,000 USD.
📶 Market Sentiment: Fear and Greed Index: 29, sentiment is stabilizing after the Federal Reserve's decision. Investors' dramatic reactions to macro policies have been digested, and attention has partially returned to the internal structure and technical aspects of the crypto market. Market analysis suggests that the current trend may be a 'relief rebound'.
💸 Capital and Liquidation
In the past 24 hours, market fluctuations due to rebound have led to a large number of short positions being liquidated.
Total liquidation amount: Total liquidation amount across the network is $25.1 million.
Long-short distribution: Bears (short) have suffered more severely, with short position liquidation of $15.4 million; long position liquidation of $97.2026 million.
Main cryptocurrencies: Bitcoin short position liquidation of $79.0387 million, long position liquidation of $24.5745 million; Ethereum long position liquidation of $32.8275 million, short position liquidation of $28.5625 million.
Number of liquidations: A total of 94,702 people worldwide have been liquidated.
🔥 Today's focus
The market digests the impact of the Federal Reserve's 'hawkish interest rate cut': Despite the rate cut being implemented, there were three dissenting votes within the Federal Reserve, the first since 2019, indicating serious disagreement among decision-makers. At the same time, the Federal Reserve has initiated a short-term treasury bond purchase plan (approximately $40 billion in the first month), which the market interprets as injecting liquidity into the system, partially offsetting the hawkish signals transmitted by the dot plot.
Cryptocurrency and U.S. stock performance show signs of decoupling: Amid Oracle's sharp stock price drop due to concerns over AI spending affecting tech stocks, the cryptocurrency market has demonstrated relative stability. Analysts point out that under macro event-driven conditions, the correlation between crypto assets and the stock market is weakening.
Bitcoin's technical indicators show initial signs of stabilization: Analysts point out that Bitcoin has formed a 'higher low' structure above $80,000, and the market's acceptance of the $90,000 price level has increased, which are both positive signals. However, its performance still lags behind gold and silver, which have recently broken historical highs, and the upward momentum remains to be observed.
📊 Mainstream cryptocurrency performance
Bitcoin: Price broke through $93,000, rising 1.37% in 24 hours to above $92,000.
Ethereum: Price fluctuating narrowly around $3,200, with a slight drop of 0.77% in 24 hours.
🌟 Sectors and hot projects
Meme sector: The most active, overall up 1.45%, with MemeCore up 9.7%. Other data shows that the total market capitalization of top Meme coins increased by 8% in a single day.
Layer 2 sector: Overall up 1.66%, with Merlin Chain up 4.99%, and Mantle up 4.07%.
Other rising sectors: Layer 1 sector up 1.33% (Zcash leading with a 17.85% increase), DeFi sector up 1.26%, RWA sector up 0.62%.
🌍 Macroeconomic and regulatory dynamics
U.S. Congress pushes to include cryptocurrencies in 401(k) plans: The U.S. House Financial Services Committee has written to the SEC, requesting a rule change to allow digital assets like Bitcoin to be included in 401(k) retirement savings plans, aiming to expand investment channels for ordinary investors.
The Federal Reserve faces a high degree of uncertainty in the future: Due to the lack of key economic data, this rate cut has been described as 'blindfolded decision-making.' At the same time, there are concerns in the market that as Chairman Powell's term nears its end, the independence of Federal Reserve policy may face challenges from political pressure.
The Reserve Bank of India warns of stablecoin risks: The Deputy Governor of the Reserve Bank of India pointed out that stablecoins may exacerbate the risk of dollarization of the local currency and weaken the capital flow regulatory capabilities of emerging economies.
🐌 Market insights
On December 12, the cryptocurrency market welcomed a general rebound after experiencing fluctuations following the Federal Reserve's decision, but the overall magnitude was moderate, indicating cautious recovery of investor sentiment. The core narrative of the market has shifted from merely trading on interest rate cut expectations to examining complex signals such as internal disagreements within the Federal Reserve, balance sheet operations, and the divergence of crypto assets from U.S. stocks.
In terms of funding, shorts have been largely liquidated during the rebound, but the total amount of liquidations has decreased compared to previous days. In terms of sectors, funds are rotating among Layer 2, Meme, and other sectors, but no overarching hotspots have formed, and market risk appetite remains in a selective recovery stage.
In the short term, the market will enter a phase driven by technical factors and specific events. Bitcoin is currently forming a rising triangle pattern on the four-hour chart, with key resistance around $93,961. If it breaks through, it may open space for testing the $100,000 mark upwards. However, given the extreme uncertainty of the Federal Reserve's future policy path and whether the decoupling of the crypto market from macro sentiment can be sustained, it is advised that investors remain vigilant amidst optimism, treating $90,000 as an important short-term sentiment support level.
