1. BTC once again tests the support level downwards, falling to a low of 92,500, liquidating a dense area of long positions, with 580 million liquidated during the past 24 hours, primarily from long positions.

Long positions continue to emerge, and if it breaks below 91,000, 1.4 billion long positions will be liquidated. However, short positions are even more concentrated; if it rises to 98,000, 2.5 billion short positions will be liquidated.

2. Last night, the Federal Reserve released the minutes of the December interest rate meeting, with no new insights. The focus is on the pace of interest rate cuts slowing down in 2025; currently, the Fed's benchmark for rate cuts is two times, with adjustments beyond that depending on market conditions. #BTC☀

From the minutes, the Federal Reserve is very optimistic about the current U.S. economy and labor market, with no recession expected in the near term.

3. The unemployment rate data to be released this Friday is the biggest gamble since Trump took office and will determine the direction of the crypto market in the short term.

Tonight, the U.S. stock market will be closed for a day in mourning for former President Carter, and we will then enter the weekend.