Financial Research Society - December 20, 2025

1. U.S. December one-year inflation expectation final value 4.2%, expectation 4.1%;

2. If the unemployment rate rises by 0.1% each month, the Fed's rate cut space is underestimated

3. Goldman Sachs: Expect global economic growth of 2.8% in 2026

4. Today, the U.S. Bitcoin ETF net outflow of 1911 BTC, Ethereum ETF net outflow of 36567 ETH

The Bitcoin daily line continues to oscillate below the lifeline, with four-hour repeated fluctuations around the middle Bollinger band. After a pullback to 84500, it broke through again near 88000. The daily lifeline and middle Bollinger band direction are still downward, forming no reversal, merely a rebound in a bear market. After the negative impact of Japan's interest rate hike landed, the market experienced an emotional rebound, the shoe has dropped.

Bitcoin today's oscillation range reference:

Support level: near 86900, near 86200, near 85600

Resistance level: near 88500, near 90000

Ethereum today's oscillation range reference:

Support level: near 2890, near 2850, near 2800

Resistance level: near 3000, near 3060 #加密市场观察 #ETH走势分析 $BTC $ETH