Last night, BTC tested downwards to below US$94,000 with low trading volume, and then quickly rebounded with heavy volume. This phenomenon fully demonstrated that the buying power had the upper hand, and it can be inferred from this that BTC's second bottoming process It's over.
When BTC bottomed below $94,000, the coinbase Bitcoin Premium Index briefly turned negative, but quickly returned to positive.
Based on various factors such as the depth of this second bottom, trading volume, and the speed of the coinbase Bitcoin premium index turning from negative to positive,
The negative news that the government of country Z transferred nearly 20,000 bitcoins the day before yesterday actually had less of a serious impact on the market than imagined.
The U.S. non-farm payrolls data for November will be released on December 6. This data is one of the most critical data before the December interest rate meeting.
If there is no major negative situation in the non-agricultural data, it is expected that the market will soon start to rise.
