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Bitcoin fluctuates repeatedly + Coinbase's major actions + Regulatory and ETF signals overlap, what exactly happened today?

Bitcoin's price rebounded this morning, quickly hitting nearly $90,000 before swiftly retreating to around $86,000 — the drastic price fluctuations reflect that market sentiment remains cautious in the short term.

Contrary to recent expectations for a price rebound, the U.S. Senate has postponed the originally scheduled crypto-related legislation to 2026, leading to uncertainty regarding the clarity of future policies. This uncertainty directly affects confidence in funds and volatility.

Important news today indicates:
✔ Coinbase is rapidly transforming and expanding its services—moving from a pure trading platform to channels for stocks, prediction markets, and USDC assets, showing that institutions remain active in expanding industry boundaries.
✔ The future supply and demand trends for ETFs are bullish—data shows that by 2026, ETFs may consume over 100% of new supply, with strong demand for Bitcoin, Ethereum, and Solana ETFs; this long-term funding logic may be a key foundation for the new cycle ahead.

📉 Investment strategies and market sentiment are changing.
Recent reports indicate that due to significant price retracement, overall risk appetite among investors is declining, with institutions and professional funds gradually shifting from pure price betting strategies to risk management, proactive allocation mechanisms, and infrastructure investment. This suggests that the market is transitioning from the "speculative phase" to the "mature allocation phase."

📈 The correlation between the stock market and crypto during the holiday season is also amplifying.
As Christmas approaches, the traditional stock market enters a seasonal uptrend window, which may short-term boost the sentiment of some risk assets, including crypto assets.

✨ What can we infer from today’s market movements?
📉 Short-term sentiment remains highly volatile: the price rebound has not stabilized, indicating that bears are still dominating after breaking important technical levels.

📊 Policy uncertainty remains a short-term suppressive factor.

🏦 Structural layout at the institutional and product level is accelerating.

📅 The holiday season may still produce emotional rebounds, but beware of "false breakthroughs" and short-term fluctuations.

In summary:
Today’s crypto market presents a mixed signal of "price under short-term pressure + structural layout accelerating" — speculative sentiment is retreating, but institutions and long-term funds are still preparing for the future cycle.

Today’s cryptocurrency market is filtering out 90% of “pseudo-traders”

BTC is neither rising nor falling; it is not an opportunity
It is the elimination mechanism that is starting

If you are still asking today: “Can I buy the dip now?”
Then the algorithm has classified you as——a liquidity provider.

📉 It’s not that the bull hasn’t come; it’s that money is waiting for you to hand over chips at a cheaper price
BTC's high-level fluctuation ≠ strong
It’s a typical game area where both bulls and bears are unwilling to take action first

The real danger is not the decline
It’s the sideways movement + shrinking trading volume

What does this mean?
👉 The sentiment is being slowly drained

📌 There is only one conclusion:
The market is waiting for a “sentiment-level cleansing”

ETH | Weaker than BTC ≠ lower value
Lack of follow-up
Selling pressure is more concentrated
Retail participation is higher

👉 ETH is not a trend asset right now
👉 It is a sentiment asset

Who is holding?
It’s not institutions; it’s hesitant people

🧨 The real risk points
❌ It’s not a crash
❌ It’s not negative news
❌ It’s not policies
But——
“The fluctuation area you think is very safe”

History repeatedly verifies:
📉 All major sell-offs almost occur during the “everyone thinks it’s fine” stage
Sideways movement is the harvesting pattern that algorithms prefer
Because it can maximize sunk costs

Don’t be fooled by localized pumps.
What you see:
📈 Small coins soaring
📈 Narrative rotation
📈 Community revelry

What algorithms see:
➡️ Liquidity is highly dispersed
➡️ There is no sustained capital relay

👉 This is sentiment arbitrage, not trend initiation

The following is not investment advice
It is behavioral advice to avoid becoming a victim

✅ What you should do
Reduce trading frequency
Narrow down position granularity
Only bet during extreme sentiment

❌ What you should not do
Predict the bottom
Leverage to bet on direction
“Practice feeling” in the fluctuation area
The fluctuation area is most sensitive to feeling
It is also the stage with the highest liquidation rate

Not operating
≠ Not participating

Every extra day you look at the K-line
Your sentiment is being recorded by the algorithm

The market does not reward diligence
It only rewards those who appear at the right time
#加密市场观察 $BTC

📉 比特币 & 以太坊继续下跌
比特币在近 24 小时内下跌约 4%，一度跌破 $86,000，美盘时段波动加剧；以太坊也大跌超过 6%，一度跌破 $3,000。市场整体情绪偏“极端恐惧”。

🧨 核心因素一：风险偏好急剧下降 + 流动性紧缩
今天市场的一波大跌，与全球风险资产的整体走弱密切相关。
美股科技股调整、大宗商品波动、假期前资金撤出，这些都在压低风险资产的风险偏好。同样，稳定币净流入放缓和局部流动性下降也增加了抛压。

🛠 核心因素二：市场情绪转弱 & 强平潮
技术面上，连续跌破重要心理价位后，导致大量多头合约被强制平仓，引发连锁性抛压。据数据显示，过去 24 小时内，市场合约爆仓数亿美元级别。
这表明短期市场仍处于风险偏好下降 + 杠杆出清阶段。

🌐 值得关注的底层动态

✅ PayPal 为稳定币 PYUSD 寻求银行牌照
PayPal 今日申请犹他工业银行执照，这可能推动其稳定币在监管框架内获得更强支持，对稳定币生态长期是正面信号。

✅ XRP 相关 ETF 连续净流入
XRP 相关的现货 ETF 近日仍维持连续资金流入态势，显示部分资本在寻找“风险调整后更优的布局方向”。

✅ 加密相关股被大举买入
尽管加密资产价格承压，ARK Invest 等机构却在加密生态股（如 Coinbase、Circle 等）上大举配置，这一操作表明机构对长期趋势仍有判断差异。

📌 一句话总结

今天整体市场表现偏弱，属于风险偏好急速下滑 + 多头仓位清算阶段，但资金流向和结构性信号显示：

🔹 短线恐慌不等于长期趋势否定
🔹 资金可能从纯现货高风险资产流向稳定币、ETF 和基础设施类标的
🔹 机构在此次调整中表现出更分散和策略性的布局

简单来说，市场短期仍偏弱，但结构性机会正在形成。

#加密市场观察 $BTC

Tonight at 21:30, the United States will release the delayed November non-farm employment data affected by the government shutdown. Morgan Stanley strategist Michael Wilson analyzed before the non-farm report release, stating that if the employment data shows mild weakness, it could actually drive U.S. stocks up—because it would raise market expectations for further rate cuts by the Federal Reserve.
Wilson pointed out in a research report released on Monday that the current market has returned to the logic of "good economic news = bad stock market, bad economic news = good stock market." He explained that while strong performance in the labor market is beneficial for economic fundamentals, it would reduce the probability of rate cuts by the Federal Reserve next year. Last Wednesday, the Federal Reserve announced a rate cut of 25 basis points as expected, marking the third consecutive rate cut; following this rate cut, the MSCI global market index immediately set a new historical record.
Economists generally expect that the United States will add about 50,000 non-farm jobs in November, with the unemployment rate remaining at 4.5%. This data combination reflects that while the labor market shows signs of fatigue, there are no signs of a sharp deterioration yet. In addition to the non-farm data, the U.S. will also release multiple economic indicators such as inflation and retail sales this week, which will effectively fill the statistical gaps caused by the previous government shutdown and may have a significant impact on the Federal Reserve's expectations for the rate cut path.
Despite the dot plot released by the Federal Reserve last week showing that the decision-making body expects to implement only one rate cut of 25 basis points next year, most Wall Street investment banks still adhere to their previous judgment—believing that the Federal Reserve will cumulatively cut rates by 50 basis points next year (executed in two phases), with only differences in the specific timing. Among them, Morgan Stanley predicts that the Federal Reserve will cut rates in January and April next year; meanwhile, Citigroup's strategist team has provided a more optimistic market outlook in its latest forecast: led by Scott Chronert, analysts expect that by the end of 2026, the S&P 500 index will rise by 12% to 7700 points, with the core support factors being the sustained strength of corporate earnings and expectations of loose monetary policy.

#加密市场观察

Today's cryptocurrency market is not simply about rises and falls, but rather a quiet shift in logic.

If we only look at prices, the cryptocurrency market today is not friendly.
Bitcoin has retreated after high-level fluctuations, mainstream coins are following the decline, and sentiment has clearly weakened.

However, if we broaden our perspective, we will notice an important change:
The market is shifting from "emotion-driven" to "structural competition."

First, short-term capital is retreating.
From the transaction structure, the chasing-up orders have clearly decreased, and the speed of high-frequency trading and leveraged funds fleeing has accelerated.
This indicates one thing:
The phase of relying on news to drive prices and charging forward based on emotions is coming to an end.

Second, there is a divergence between ETFs and on-chain data.
Prices are falling, but some long-term holding addresses have not budged,
The ETF side is more about "slowing inflows" rather than panic-driven outflows.
This is not a signal to escape, but rather a typical period of——
wait-and-see.

Third, the market is beginning to reprice the "narrative."
Old stories like AI, Layer2, Restaking are becoming increasingly difficult to ignite enthusiasm;
Funds are starting to be picky and asking three questions:
Is there real demand?
Is there sustained cash flow?
Is there the ability to survive?

This is actually a very typical scene in the middle of a bull market:
The market no longer rewards storytellers but begins to filter out projects that "can remain."

Therefore, today's bearish candlestick, rather than being negative news, is more of a reminder:

In the coming period,
Quick money will become increasingly difficult,
But real opportunities will become clearer.

The market is not dead,
It has just started to become less easy to deceive.

Do you think now is the time to continue waiting,
Or has it already reached a stage where we can slowly lay out our strategies?
#加密市场观察 $BTC

The cryptocurrency market has changed again today: prices are falling, but two new pieces of information are quietly changing the trend

Today, the cryptocurrency market has experienced another round of "face-slapping volatility".
Bitcoin continues to hover around $88,000, and mainstream coins are under pressure, with sentiment still leaning bearish.

However, compared to the lackluster prices, two new trend messages are worthy of more vigilance — or rather, more attention.

📌 1. Global liquidations continue, but the scale and pace are "converging"
Public data shows that in the past 24 hours, the number of liquidated positions has exceeded hundreds of thousands, with the amount approaching $1 billion.
This means one thing:
High leverage has been thoroughly washed out, and the market is entering a phase of "low leverage, real prices".
In other words —
Today's Bitcoin price is closer to "real supply and demand" than it has been in the past month.

This is not a bad thing; it is part of the market's health improvement.

📌 2. The market is falling, but institutional entry is "continuing to open"
This is very counterintuitive.
At the worst point of the market, several traditional financial institutions, funds, and platforms announced the opening or strengthening of investment channels for crypto assets:
Vanguard allows users to access Bitcoin, Ethereum, and other spot ETFs.
This is one of the most conservative institutions with the strongest traditional financial attributes in the world. Their willingness to engage indicates that the status of crypto assets has changed.
Some institutional fund reports believe that BTC has entered the "bottoming phase"
and view the current range as "an area for phased layout, not a selling window".
On-chain large holders have not exited, but rather are stabilizing their accumulation.
Medium-sized funds (not short-term) are entering, indicating that the market structure is being reshaped.

You will notice a counterintuitive phenomenon:
The worse the price looks, the calmer the institutions are. The more panic there is, the more composed long-term funds are.
This statement holds particularly true during periods of alternating bull and bear markets.

📌 3. So what is the most important signal today?
It's not how much it has dropped, but rather:
The market's "panic energy" is being rapidly released.
And the institutions' "layout energy" is slowly accumulating.
The two forces are colliding.

The real turning point often does not come from a "rise",
but rather quietly appears when everyone has become numb to the drops.

$BTC

When stablecoins collectively start to "fail", why can USDD remain stable? The answer lies in on-chain data.

In the past few months, everyone has felt it: stablecoins are no longer "stable". Decoupling has become the norm, and even the fluctuations of some leading projects have made users anxious.
But in this chaos, the performance of USDD has been very unusual—stable, very stable.

Many people ask: Why can USDD remain stable?
The core lies in the underlying design of USDD 2.0:

① Full on-chain transparency + excessive collateral = solid foundation of trust
From collateral, treasury balance to PSM liquidity pool, everything is traceable on-chain.
Not only that, USDD has passed five audits by CertiK and Chainsecurity, truly maximizing security.
In an industry filled with so many controversies, even leaders like DD publicly recognize the safety logic of USDD 2.0, which is rare.

② The stability mechanism achieves "mathematically verifiable"
PSM enables 1:1 no slippage exchange, and the arbitrage mechanism automatically corrects the price.
Taking the TRON chain as an example, the PSM liquidity is close to fifty million, with sufficient depth to handle large inflows and outflows.
In this year's chaotic stablecoin market, the price of USDD has long maintained at 0.999, which is quite rare.

③ Sustainable on-chain yields, not temporary subsidies
Staking USDD → minting sUSDD has an APY of about 12%, which is a real source of on-chain yield, not a model supported by subsidies.
Those who like DeFi can choose JustLend DAO (10% APY);
Those who prefer lightweight wealth management can go to HTX Earn (10% APY);
Those seeking high yields can do USDD–sUSDD LP (APY can reach 23%+).

④ Binance Wallet Yield+ further amplifies the benefits
The path from USDT → USDD → sUSDD, combined with activity rewards, can exceed an APY of 25%+, with no TVL limit.
For ordinary users, this means a truly high-quality yield opportunity that can be freely participated in.

In the current turbulent market, a transparent, stable, and sustainable stablecoin system is very scarce.
USDD is not just a shout; it has proven itself with on-chain data, real yields, and evolutionary mechanisms.

@USDD - Decentralized USD
# USDD#USDD以稳见信

Bitcoin rebounds, but the real risks are not gone yet

Today the crypto market is a bit "volatile":
On one side, Bitcoin and mainstream coins have slightly rebounded, while macro and institutional news continue to tighten the market's constraints.

📌 Bitcoin once rebounded over 2%, returning above $92,000, and Ethereum also followed suit, indicating signs of short-term risk appetite recovery, largely driven by the global stock market's warming.

📌 However, the Federal Reserve's latest statements remain cautious: nominally cutting interest rates, yet the tone is quite "hawkish", making the market realize that - easing won't come too quickly, and Bitcoin subsequently retraced part of the gains, continuing to be pressured around $90,000.

⚠ Two signals worth watching today

① The risk of Strategy (MSTR) being adjusted from the index.
The controversy over whether Strategy will be removed from the Nasdaq 100 is still fermenting. Once determined to be removed, passive funds may be forced to sell, which is not just a stock price issue for the company, but will also affect its Bitcoin holdings and market sentiment.

② Despite the rebound, the funding sentiment remains fragile.
Although there is a rebound on the surface, capital flow has not significantly warmed up, and the uncertainty of macro rates and index weight adjustments makes the market feel more like it is in "passive fluctuation" rather than "active advancement".

🎯 How to view this market trend?

Short-term: it is a weak rebound + emotional testing, a single piece of news can pull the market back and forth.

Medium-term: we need to watch two things - whether the Federal Reserve's stance will truly turn dovish, and whether ETF and institutional funds will continue to flow back.

In a nutshell, the market is still looking for a "new equilibrium":
Some are seizing the rebound, while others are waiting for a deeper correction.
What truly determines the next wave of trends is - who will start to build positions during the hesitation period.

Do you think this wave today is a "real rebound" or a "flash in the pan"?
#加密市场观察 $BTC

Why can USDD remain stable during this year's 'decoupling trend' in the crypto world? This article explains the underlying logic of USDD 2.0

@USDD - Decentralized USD
#USDD以稳见信

Recently, the stablecoin market has been turbulent, with several mainstream stablecoins frequently decoupling, and even the industry leader has been discussed. However, USDD has remained surprisingly stable during this 'test' — the price has long maintained around 0.999. This is not luck, but an inevitable result of model upgrades.

The biggest underlying logic of USDD 2.0 is 'safety, transparency, and sustainable returns'.
① Safety
USDD uses an over-collateralized model, with all collateral assets publicly available on-chain, allowing anyone to audit in real-time (data from: usdd.io/data, Treasury).
More importantly: USDD has passed a total of 5 audits by CertiK and Chainsecurity, and even the industry leader DD (see on-chain discussions) said 'the model has no issues'.
Safety is the first lifeline of stablecoins, and USDD has thoroughly solved the trust issue with transparency.

② Stability
USDD relies on the PSM no-slippage arbitrage mechanism to keep price fluctuations extremely low, with sufficient liquidity across multiple chains including ETH, BSC, and TRON, where the PSM liquidity on TRON is close to fifty million.
In the generally 'swaying' environment of stablecoins this year, USDD has remained stable, which is a direct vote of confidence in the mechanism.

③ The revenue model does not rely on subsidies and is genuinely sustainable.
The most powerful aspect of USDD 2.0 is that the revenue sources are transparent and verifiable on-chain, allowing for the minting/staking of sUSDD based on demand, achieving about 12% real APY.
Those who like DeFi can use USDD to earn 10% APY on JustLend DAO.
Conservative users can earn 10% with USDD on HTX Earn;
Those who enjoy mining can participate in PancakeSwap's USDD–sUSDD LP, with APY reaching up to 23%+

More importantly, USDD's underlying investment strategy Smart Allocator has generated over 7.2 million dollars in on-chain profits, achieving a true positive cycle and allowing stablecoins to move toward long-term self-growth.

④ Binance Wallet Yield+ further elevates the returns.
Route: USDT → USDD → sUSDD
Activity rewards APY can reach 25%+, with no TVL limit, distributing 10,000 USDD rewards daily.

USDD's current stability is not based on hype but supported by on-chain data. If you are also looking for a stablecoin asset allocation method that is safe, transparent, and sustainable, USDD 2.0 is worth in-depth study.

The market suddenly experiences a 'general rise', but how long can this wave of warmth last?

Just now, the cryptocurrency market saw a brief collective rebound. Watching the numbers on the screen jump from green, you might suddenly feel—are we about to turn red?

Currently, mainstream coins are rising significantly, with 92 out of 100 mainstream coins increasing in value. Bitcoin has risen about 2% to around $92,000, while ETH has surged even more by about 6% to around $3,300.

At the same time, there has been a net inflow of spot BTC and ETH ETFs, suggesting that institutional capital seems to be moving again.

At first glance, this appears to be a belated warm current in winter—but what truly gives one goosebumps is whether the market will 'cool down' in the next moment.

⚠️ Three Impact Signals
1) The atmosphere comes quickly, but the structure may not be stable
The rebound is a fact, but from the news itself, the market is still closely watching the Federal Reserve's interest rate decisions, macro risks, and changes in liquidity. A short-term rise does not equate to stabilized confidence; it merely indicates that temporary emotions have been ignited.

2) Caution hidden in the rebound
Although most coins are rising, the attitudes of many institutions and professional players indicate they are still waiting for clearer catalysts. When prices rise to a certain point and then stop, it suggests that many are uncertain about whether they can continue to hold, and they are more likely engaging in short-term arbitrage or tentative positioning.

3) The inflow and outflow of institutional funds are key variables
Today's ETF net inflow seems like good news on the surface, but it may just be a brief adjustment. The direction will ultimately be determined by the continued inflow or outflow over the next few days or weeks. If there are only occasional small net inflows for a day or two, it won't be enough to support a long-term trend.

This wave of increase resembles a temporary warming of market sentiment combined with a slight restructuring of capital, rather than the official starting point of a new bull market.
What truly determines the next step is not how much we 'rose today', but rather—

Whether institutions and long-term funds will continue to enter, or if it’s just tentative operations for a day or two;
Whether the macro environment and policies provide more stable signals, allowing the market to dare to establish positions at higher levels;
Whether liquidity, risk appetite, and market confidence truly return to levels that can support sustained increases.

#加密市场观察 $BTC

Is Bitcoin unable to drop further? Structural 'supply tightening' may brew the next round of market movement

Today, the cryptocurrency market continues to exhibit a pattern of 'short-term fluctuations + long-term reconstruction'. Although Bitcoin is still fluctuating around $90,000, the underlying funding structure and supply status are showing increasingly noteworthy trends.

Recently, Bitcoin has attempted multiple times to break through the resistance of $92,000 to $94,000, but due to market uncertainty regarding interest rate decisions and weak ETF fund flows, the strength of short-term bulls has been insufficient, causing the price to briefly retreat. However, what truly holds indicator significance is not the rise or fall, but the signals provided by on-chain data:

The exchange-available Bitcoin inventory is continuously declining, reaching a phase of low levels.
This indicates that selling pressure is decreasing, and the number of circulating coins in the market is diminishing. Once there is any sustained buying from funds, it could trigger a chain reaction of 'supply tightening → price rising quickly'.

Looking at the funding structure:
High leverage and short-term speculative positions have mostly been cleared out during the previous rounds of sharp declines and liquidations. The funds that are still holding on at this point are mostly stable, long-term, and financially strong institutions and long-term holders. They are gradually replenishing their BTC and ETH positions at lower levels, preparing for future liquidity improvements.

In summary, the current market structure can be described as:
Prices are hesitant, but funds are sinking.
Sentiment is still anxious, but the bottom is quietly being built.

🔎 The next three crucial matters
① Whether the exchange BTC inventory continues to decline
If the trend continues, it is a strong signal that 'the supply side continues to tighten'.
② Whether institutional funds return
ETF subscriptions warming up = market confidence returning.
③ Whether the interest rate and liquidity turning points are clear
Once global funding risk appetite improves, crypto is one of the first assets to benefit.

Currently:
Short-term: dominated by fluctuations, sentiment is weak
Medium-term: improvement in funding structure + supply tightening is a potential rebound soil
Long-term: if the macro environment warms up, there is still hope to restart the upward cycle

This market movement is no longer an 'emotional bull', but a prelude to whether structural bull, supply bull, and institutional bull can truly take the stage.

#加密市场观察 $BTC

The federally regulated futures exchange has officially opened spot trading for Bitcoin and all types of cryptocurrency assets.

Bitcoin is under pressure but is Ethereum on the verge of a breakout? The market is becoming more polarized—opportunity or trap?

Today, the price of Bitcoin briefly fell below $91,000, hitting a low during the day, and although it rebounded afterward, it still hovers in the $91,000–$92,000 range.
This has dragged down the entire crypto market—most mainstream coins and altcoins are also following the decline, with overall market sentiment being pessimistic.
In other words: the market has not yet completely recovered from the previous major fluctuations and is still in a phase of consolidation and repair.

However, ETH and some mainstream coins may be the potential core of this rebound.
Under the recent network upgrade and capital dynamics, Ethereum has shown significant signs of "counter-trend resilience + accumulation": some analyses indicate that ETH is approaching the resistance level of $3,200, and if it breaks through, it may lead to a wave of upward movement.
At the same time, institutions and large players continue to position themselves in ETH and BTC, manifested as "buying on dips + long-term reserves," which may become an important force to support the mid-term price bottom.
In other words, if you prefer stability/medium to long-term, ETH may currently be a relatively hopeful potential asset.

⚠️ Two major risks/variables that cannot be ignored

Capital outflow + ETF redemption pressure
Recently, Bitcoin ETFs under mainstream funds like BlackRock have seen a wave of capital redemption—reports suggest that the net redemption amount this week reached hundreds of millions of dollars, which has significantly suppressed the overall sentiment around Bitcoin.

Macroeconomic & interest rate/liquidity uncertainty
The current global economic and monetary policy environment remains unstable, and if there are deviations in interest rates, the bond market, or macroeconomics, the volatility of crypto assets as high-risk assets may be further amplified.

🎯 Cautious layering: Don't place all your bets on Bitcoin

If you prefer stability: ETH may currently be a better choice; pay attention to the $3,200 breakout.

If you prefer high risk: Bitcoin may continue to oscillate in the short term, suitable for trading, but do not blindly go all in.

If you prefer defense: it is advisable to reduce high leverage, review overall asset allocation, and not expose too large a proportion to crypto volatility.

In summary: this market is no longer about "one coin dominating," but rather "structural differentiation + layered opportunities"—those who can think clearly and control risks are more likely to endure until the next opportunity.
$ETH

🔔 Today's Cryptocurrency Market Report: Under the Rebound, Uncertainty is Greater than the Increase

📈 Market: A Repair After a Sharp Drop, Not a Complete Reversal

In the past few days, the cryptocurrency market has clearly shown signs of recovery:
Bitcoin has once again reached the $90,000 mark, temporarily shaking off the shadow of the recent plunge;
Mainstream coins like ETH and SOL have also risen, making the market look much more pleasant.
However, compared to the highs, BTC is still deeply retraced; this wave feels more like a technical rebound after panic, not a complete trend reversal.

💰 Funds: Some are Testing the Waters, More are Choosing to Wait

Some institutions and medium to long-term funds have started to flow back in slightly, with signs of “tentative building” from ETF and over-the-counter funds;
Many retail investors who were previously liquidated are still hesitating, and trading volume and sentiment have not truly recovered, indicating that people are not fully convinced by this rebound;
Macro factors like interest rates, policies, and global risk appetite are still hanging in the balance, and if another negative factor arises, this increase could easily be reversed.

🔎 My Judgment: Now is the Time to “Observe the Market,” Not to “Go All In”

Moving forward, what truly deserves attention is not how much today’s increase is, but:
1️⃣ Whether interest rate cuts and liquidity truly have marginal improvements;
2️⃣ Whether ETF and institutional inflows can be sustained, rather than just a one-day event;
3️⃣ Whether large on-chain holders are steadily accumulating, rather than reducing positions during the rebound.

This wave of rebound has given everyone a chance to take a breath,
but we are still far from the moment of a “bull market’s second takeoff.”

#加密市场观察

🔔 Don't just focus on Bitcoin, what's truly crazy today is these coins

Today everyone is refreshing "Bitcoin returns to $93,000", but if you only focus on BTC, you are actually missing an even more exciting scene in the market—a bunch of altcoins are desperately surging.

① Ethereum: Quietly, it’s rising even more than BTC
In the past 24 hours, ETH's increase is close to 9%, with the price returning above $3,000, and its increase has actually surpassed that of Bitcoin.
On one side is price recovery, while on the other is the recently launched Fusaka upgrade, which has heated up market expectations for future performance, ecology, and DeFi.

② Public chain direction: High Beta assets like SOL and SUI are charging ahead
Solana's daily increase is around 10%, once again performing the act of "scary when it drops, scary when it rises";
SUI directly staged a mini FOMO, pulling up about 20–30% in a single day, becoming one of the top-performing coins on the list.

③ Sub-segments: NFT and Meme are also starting to bubble
Statistics show that most sectors have increased by 3%–12% in the past 24 hours, with the NFT sector's overall increase close to 12%, and projects like Pudgy Penguins rising over 20% in a single day.

④ But there’s bad news too: More and more small coins are being swept out
At the same time, Binance announced that it will delist all spot trading pairs for the three altcoins FIS, REI, and VOXEL on December 17.

This sends a very clear signal:
The platform is "cleaning up marginal assets", and liquidity will increasingly concentrate on leading assets + projects with real narratives and applications.

🧠 In summary:
Today’s market isn’t a day of "just looking at Bitcoin", but rather:
BTC is responsible for "giving the market a shot in the arm";
ETH proves it’s still at the center stage with upgrades and increases;
High Beta public chains like SOL and SUI are showcasing high volatility;
NFTs and Memes are tentatively recovering;
Trash small coins are being gradually "swept out" by exchanges.

"The truly valuable information from this rebound isn’t 'how much Bitcoin has risen', but rather—funds are slowly moving back from chaotic speculation to leading and narrative-driven assets.
Are you still betting on 'small trash doubling', or are you starting to take a more serious look at the leaders and sectors?"

#加密市场观察 $ETH

🔔 Today's Crypto Market Update: Bitcoin rebounds after a sharp drop; is this an opportunity or just a last bit of dignity?
📈 Market Status: A 'technical rebound' after a significant drop

Bitcoin (BTC) rebounded today to the range of $92,000–$93,000 after plummeting in the last couple of days, indicating it has pulled itself halfway out of the pit.

Mainstream coins like ETH and SOL are also rising, with the overall market cap showing slight recovery and the fear index easing somewhat.

But don't forget, since the peak in October, BTC is still down over 25%, and many people's gains from the last rally have essentially been wiped out; this rebound feels more like 'stopping the bleeding after a severe injury,' so it's too early to talk about full recovery.

💰 Capital Movement: Some are testing the waters to build positions, while more are choosing to observe

In terms of capital, some institutions and medium-to-long-term funds are showing signs of net inflow, but the momentum isn't strong—it feels more like 'testing the waters' rather than a 'full return.'

Retail investors, after experiencing large-scale liquidations earlier, remain cautious; many are sitting on the sidelines, and those willing to go all-in have noticeably decreased.

On a macro level, the uncertainty regarding interest rates and global risk appetite still looms overhead, and if any external issues arise, this small rebound could vanish at any moment.

🔎 My Judgment: Now is an 'observation phase,' not a 'full offensive phase'

Focus on these key signals:

ETF capital flow: Only when long-term money continuously comes in can there be sustained momentum;

Institutional wallets and on-chain large holder behavior: Are they buying the dips or selling at highs;

Macro liquidity: Can the easing expectations materialize;

Retail sentiment: Only when fear alleviates and trading volume increases can the market be considered truly 'out of danger.'

Today's rebound doesn't necessarily indicate a return of the bull market; it feels more like a 'collective deep breath' after the sharp drop.

If it were you, would you stagger your entry now, or wait for the 'liquidity + capital + sentiment' triple resonance signal?

#加密市场观察 $BTC

Bitcoin has crashed again, but what is truly frightening is not the price, but that emotions are starting to spiral out of control.

Today's cryptocurrency market has delivered a heavy blow to everyone once again.

Bitcoin once fell to around $86,000, and the entire market seemed to have its base suddenly pulled away, causing mainstream coins to collectively kneel.
What’s even more heart-wrenching is that the number of liquidations has exceeded 270,000, with nearly $1 billion evaporated.

This isn't just a normal correction; it's an 'emotional stampede'.

However, during such times, we need to remain calm and see what’s happening behind the scenes.

First, retail investors are fleeing while institutions are watching.
On-chain data and ETF data show that most liquidations are coming from highly leveraged retail investors, while institutions have not withdrawn en masse.
The harder the price falls, the more 'expressionless' long-term funds remain.
This is the most chilling aspect —
The panic in the market is tearing apart from the calm of the institutions.

Second, the drop in Bitcoin indicates one thing: the market has truly lost confidence.
Liquidity hasn't improved, interest rate expectations are fluctuating, and global risk assets are all trembling.
The cryptocurrency market isn't crashing in isolation; it is being dragged down by the anxiety of the entire era.

Third, what is truly concerning is that 'no one dares to catch the falling knife'.
In the past, there were always buyers when it dropped 5%, but now when it drops 15%, the market seems frozen.
This indicates that the sentiment for bottom-fishing hasn’t returned, and the bottom won’t appear so quickly.

But to be fair, the true starting point of every bull market has never been when the heat is at its highest, but when —
Everyone starts to doubt whether cryptocurrency still has a future.

Today's drop may not be the endpoint,
But it is definitely a 'turning signal':

The market is liquidating the fantasies of the past year,
And truly strong capital is waiting for a sufficiently clean turning point.
#加密市场观察 $BTC

Is the crypto market collapsing today? 3 breaking news messages flooding the screens, the entire market is stunned

Today's crypto market can be summarized in one sentence:
The whole circle is stunned by the sudden news.

From the morning session, the market was obviously not right:
BTC suddenly plummeted, ETH crashed sharply, popular altcoins fell back to pre-liberation levels in one day.
But what really shocked people were the three news messages that flooded the screens simultaneously——

⚠️ ① Whales continuously selling off, directly creating a selling pressure of nearly 1 billion dollars

On-chain data shows that a long-term "never sells coins" whale suddenly transferred a large amount of BTC within a few hours.
The market panicked instantly:
“Is there some inside information?”
“Is this a signal for a new round of waterfall?”

The result was: prices instantly plummeted.

⚠️ ② Major exchanges reported technical abnormalities, user withdrawals delayed

A certain large exchange suddenly displayed a widespread "withdrawal lag" notice.
Although the official stated it was a "system upgrade",
everyone understands what an upgrade like this means during such times.

The worse the market, the more afraid of "black swans".

This wave of panic instantly intensified.

⚠️ ③ Global market sentiment plummets: US bonds soar, stock markets crash, risk aversion sentiment fully erupts

External markets worsened the situation:
US bond yields suddenly soared, global risk assets weakened simultaneously.
Risk aversion sentiment rose, and once traditional funds withdrew, the crypto market was hit hard.

These three pieces of news stacked together——
Who can withstand it?

🤯 Market panic has reached its peak, but could this be the "eve of reversal"?

Every major drop sees some in despair, some in panic, some leaving the market.
But history tells us:
Crypto has never made money when it's rising, but rather determines fate when it's falling.

The higher the panic, the closer we are to the bottom;
The more liquidations, the easier it is to see a "strong rebound".

The truly terrifying thing is not the drop,
But when no one dares to speak.

$BTC $ETH

Collective plunge! Federal Reserve, sudden!

On the morning of December 1, the cryptocurrency market experienced another major drop, with Bitcoin temporarily falling below $87,000, and the daily decline exceeding 5%; Ethereum also saw a decline of over 5%, dropping below $2,900. Coinglass data shows that within 24 hours, the total liquidation in the cryptocurrency network exceeded $500 million, with the number of liquidated individuals reaching 177,200.

The current drop in cryptocurrencies may be related to a rumor circulating in the market about Federal Reserve Chairman Powell. A "small essay" claims that "Powell will announce his resignation at an emergency meeting scheduled for 7 PM Eastern Time on December 1." However, as of now, mainstream foreign media have not reported any related news. Analysts point out that this rumor is most likely false.

U.S. President Donald Trump stated on Sunday that he has decided on the next Federal Reserve chairman. White House National Economic Council Director Hassett indicated that there are signs Trump may finalize the selection for the next Federal Reserve chairman before the end of the year.

177,200 liquidated

Today, cryptocurrencies have all fallen. Bitcoin temporarily dropped below $87,000, and Ethereum fell below $2,900. As of the time of writing, Bitcoin is down 4.22% at $87,100, Ethereum is down 5.35% at $2,837, XRP and Dogecoin are down over 6%, and Solana and Cardano are down nearly 6%.

Coinglass data shows that within 24 hours, the total liquidation in the cryptocurrency network reached $5.28, with the number of liquidations reaching 177,200. Among them, long positions were liquidated for $466 million, and short positions for $61.75 million. The largest single liquidation occurred on Binance-ETHUSDC, valued at $14.4817 million.

#加密市场观察 $BTC
$ETH

Why hasn’t the 'Altcoin Season' arrived yet, but Ethereum and mainstream coins are quietly accumulating rebound energy?

In the last 24 hours, a 'subtle but noteworthy' signal has emerged in the crypto market — despite overall sentiment remaining cautious, several key data points are quietly changing, which may indicate that the prelude to a new round of rebounds has already begun.

✅ What has happened recently?

According to the latest data, stablecoin yields are at low levels, which some analysts interpret as a sign of reduced 'overheating' risk in the market. This means that leverage and speculative enthusiasm may be temporarily suppressed, leaving room for a steady rebound.

Meanwhile, current mainstream coins like Bitcoin (BTC) and Ethereum have shown signs of capital inflow recently, with some speculating that this may indicate institutions or some rational funds are quietly positioning themselves.

Looking at the overall market's 'Altcoin Season Index' — it is currently only about 22, significantly lower than the September peak of 78. This suggests that altcoins have not yet fully launched, and the entire market is still in a 'cautious period.'

In other words: the current market is likely in a phase of 'mainstream coin recovery + altcoin consolidation' — a relatively steady and risk-controlled asset restructuring.

🔎 What does this mean?

For ordinary investors/observers, this is currently a 'stealth observation period.' Not all coins will take off, but if mainstream coins stabilize, they are expected to rebound first.

For those inclined towards stability and avoiding excessive speculation, the current situation may be a 'low volatility + high certainty' window. Low stablecoin yields + stable market sentiment = mainstream coins may become a short-term 'safe haven.'

For long-term investors, this may be a good opportunity to reorganize positions and clarify asset structures — because before the altcoin craze begins, buying high-quality mainstream coins + focusing on market liquidity & macro environment, the risks may be relatively low.

#加密市场观察 $ETH