1. $BTC once again tests support levels downward, falling as low as 92,500, liquidating a dense area of long positions, with 580 million liquidated in 24 hours, primarily long positions.
Long positions continue to emerge, and if it breaks down below 91,000, there will be 1.4 billion long positions liquidated. However, short positions are even denser; if it rises to 98,000, 2.5 billion short positions will be liquidated.
Currently, $BTC will oscillate between 91,000 and 98,000, with a higher probability of moving upward.
2. The minutes from the Federal Reserve's December interest rate meeting were released last night, with no new insights. The focus is on a slowdown in interest rate cuts in 2025. Currently, the Fed's benchmark for rate cuts is 2 times, and any adjustments above that will depend on market conditions.
From the meeting minutes, the Fed is very optimistic about the current U.S. economy and labor market, and a recession is not expected to occur 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 the weekend will follow.
Some investors are leaving early to hedge for Friday.
