💥 So strong! What kind of news is driving this $BTC -hour big bullish candlestick that just appeared?
On December 9th, around 3 PM UTC, $BTC suddenly surged from around 90,000 to above 93,000! Here’s a brief summary of the news over the past two days: 👇
1️⃣ Expectations for Federal Reserve rate cuts have risen, and the macro sentiment is bullish.
This week is the Federal Reserve meeting, and the market generally bets on a 25bp rate cut, believing there is a chance of reintroducing liquidity, benefiting risk assets overall, and Bitcoin is sure to strengthen.
2️⃣ Twenty One Capital (a Bitcoin treasury company) experienced a large transfer of over 43,000 BTC from the custody wallet on the day of its listing, which directly boosted sentiment.
3️⃣ Large institutions continue to accumulate Bitcoin (such as MicroStrategy, ARK, etc.)
MicroStrategy added over 10,000 BTC and continues to buy: showing that institutions are still active in accumulating coins in the market.
4️⃣ Regulatory favorable news
U.S. regulators allow BTC and other assets to be used as collateral for derivatives, and PNC Bank has opened Bitcoin trading services, making the fact that Bitcoin is becoming a 'mainstream financial asset' gradually more real.
5️⃣ Ongoing outflow of on-chain funds + multiple large whale fund movements:
The continuous decline in exchange BTC balances and large whale transfers indicate that the market is in a state of 'low selling pressure + high coin accumulation,' creating structural conditions for price increases.
6️⃣ Key market opinion leaders (CZ, Saylor, etc.) release strong bullish statements.
CZ emphasizes that Bitcoin has entered a 'super bull market,' and Saylor continues to publicly express a long-term bullish outlook.
7️⃣ Technical aspects: Stabilizing at the 90,000 level + short squeeze.
BTC has been fluctuating around 90,000 for the past two days, with short sellers betting on a subsequent breakdown. However, the bulls have held this position, and short-term traders need to be cautious; if it doesn't go down, they will push it up, and derivatives positions could be forced to stop-loss or close shorts at critical points, easily amplifying the upward movement within an hour.
Reference materials
CryptoSlate, CoinDesk, bingx.com, cryptoslate.com, Coinglass, Santiment on-chain metrics analysis, cryptobriefing.com, Bitget.
😎 Next, we will talk about the powerful IV and skew index.
