Every time before the weekend, I worry that something unexpected will happen. Today should be the drop caused by Oracle bones, which has affected the entire AI sector, and the AI sector is influencing tech stocks. Therefore, the trend of Bitcoin is also normal. Speaking of which, in the past few days, $BTC has been hovering around 90,000 USD. Just recently, it surged due to favorable interest rate cuts, but was pulled down again for various reasons within a couple of days, mainly due to poor liquidity and low investor sentiment.

From the data on spot ETFs, it can be seen that although the selling volume is not high, the buying volume is pitifully low. This indicates that more ETF investors have a long-term perspective, but there is a lack of interest in buying at this stage, even retail investors are starting to exit from the US stock market. Therefore, if liquidity does not improve or if there is no direct positive stimulus for the cryptocurrency sector, it will still be quite difficult for sentiment to improve.

Today is the last working day of the week. I wonder if this low sentiment will carry into the weekend. Next week, there will be more macro data coming out, especially the unemployment rate data, which is currently a key focus. If the unemployment rate continues to rise and the job market continues to weaken, the probability of the Federal Reserve cutting interest rates in January is still quite high.

Looking back at the data on Bitcoin, although the turnover rate has decreased somewhat, it is still at a relatively high level. Short-term investors' sentiment is still quite tense, but long-term investors' sentiment remains very stable. The current market is starting to wait for data, using data to speculate on the Federal Reserve's upcoming monetary policy. Overall, it is about which appears first: recession or monetary easing.

URPD data shows that the chip structure remains very stable, with the sentiment of most investors being very healthy. There are no signs of panic selling from investors with high losses. Tomorrow is the weekend, and I hope nothing goes wrong. It would be great to get through it smoothly.