Today (December 11, 2025) Summary of Key Information in the Crypto Circle:

Market Conditions

- **Bitcoin (BTC) Price**: Currently fluctuating in the range of $92,000 to $94,000, recently rebounding above $94,000, but overall remains in a correction state. Since November, BTC has seen a significant decline, dropping nearly 30% from the October high of $126,000, erasing much of the annual gain. Market sentiment is leaning towards fear (Fear & Greed Index is in the extreme fear zone).

- **Ethereum (ETH) and Other Major Coins**: ETH price is around $3,300, with a significant recent decline as well. Altcoins are generally performing poorly, with many coins declining more than BTC.

- **Overall Market**: The total market capitalization of cryptocurrencies has decreased, and leveraged liquidations are frequent. The start of December is under pressure, but some analysts believe that if the Federal Reserve cuts interest rates, it could lead to a rebound.

Key Events and Influencing Factors

- **Federal Reserve's December Meeting**: The market is highly focused on this week's Federal Reserve decision (the probability of a 25 basis point rate cut is high). If the rate cut occurs as expected, it could benefit risk assets, including cryptocurrencies; however, if there is a "sell the news" reaction, there may be short-term volatility. Recent macroeconomic uncertainties (such as employment data) have led to cautious market behavior.

- **Regulation and Policy**: The U.S. crypto regulatory progress is positive, with the Republican Party pushing for a crypto market structure bill, aiming to share a draft this week. Trump's pro-crypto stance continues to gain traction, but no significant new catalysts have been seen in the short term.

- **Institutional Dynamics**: Bitwise has launched a broad crypto ETF, providing exposure to a basket of cryptocurrencies. Companies like Strategy continue to hold BTC, but market leverage remains high, making it susceptible to liquidations.

- **Other Hot Topics**: Privacy coins like Zcash are performing strongly; there are new developments in the DeFi and stablecoin sectors, but overall liquidity is tight.

The current market is still dominated by macro factors, with significant short-term volatility. It is recommended to pay attention to the Federal Reserve's results and the BTC support level at $90,000. In the long term, institutional adoption and clearer regulations remain positive factors. DYOR, risks are self-borne!