The day before yesterday, I reminded everyone that the market might pull back, and the result was that Bitcoin really crashed, with nearly 300,000 people forced to liquidate their positions, it's heartbreaking!

In fact, this crash mainly has two reasons: one is that the Federal Reserve's interest rate cut plan for next year is not strong enough, causing the US stock market to suffer, and Bitcoin was also dragged down; the other is that Federal Reserve Chairman Powell said they will not buy Bitcoin and do not want to change the law.

But I think both of these issues are temporary and the market will digest them after a while.

Now Bitcoin has already dropped to around 97,000, so don’t panic too much, because this drop is mainly due to news, so in the short term it may fluctuate around 100,000. If you think the price is right, you can try to buy some spot in batches, and you can keep buying until around 80,000, but definitely don’t touch contracts!

$BNB also dropped, but it is rebounding fairly quickly now, and in the short term it may fluctuate around 700. If you are playing with spot grid quantification, you should be able to make some profit. Ethereum $ETH is in a worse situation, dropping harder than Bitcoin, and the rebound has little strength, the funding rate has also decreased a lot, if it drops further, it may be weak for a while. As for Dogecoin $Doge, everyone knows that without Elon Musk's shout-out, it’s just a decoration, but no one knows when he will shout.

Overall, I think after this adjustment, Bitcoin will still fluctuate up and down at a high level, the bull market is not over yet. However, there may still be some risk in the next few days, and the real opportunity may not come until mid to late January. So, everyone should buy some spot now to be more stable, and definitely don’t touch contracts, it’s too scary!

Now back to today’s daily $BTC market analysis, from the K-line perspective, the 1-hour level is down, the 4-hour level is down, the 12-hour level is down, the daily level is down, the intraday resistance level is 99,000, the support level is 94,000, and note that 95,000 is an important key position!!