The Federal Reserve hinted at slowing the pace of interest rate cuts next year, leading to declines in both the US stock and cryptocurrency markets. This reflects that the rise in financial markets over the past few years has mostly been supported by expectations of financial policy rather than improvements in the real economy, which is a relatively dangerous signal. Additionally, it suggests that the most optimistic trend for US stocks and the cryptocurrency market next year is sideways movement, making it difficult to see a surge in prices.

Returning to the current cryptocurrency market situation, I previously advised everyone to pay attention to the resistance levels of $108,000 and $122,000 for Bitcoin. I expect this two-year-long small bull market to end at these two levels, and you can consider reducing your positions and taking profits at these points.

Currently, Bitcoin is facing resistance at the $108,000 level. We need to closely monitor whether the daily closing price can stabilize above the $100,000 support level. This is the advantageous support for the daily bullish trend and must not be lost. If it cannot stabilize above $100,000, I will reduce my spot positions and consider going short, while paying attention to the support levels of $95,000 and $87,000.