In the past 24 hours, 427,378 traders were liquidated, with a total liquidation amount of $1.39 billion. The bull market is not over yet, and it is still in an upward trend.

Late at night, the turning point in the cryptocurrency circle finally came!

The inflation data just released showed that both PCE and core PCE beat expectations, falling an additional 1%. This greatly eased the current rumors that the Fed will cut interest rates less next year, and now that Wall Street is back to work, a rebound is expected.

In addition, if you look at the on-chain data, you will find that the Trump family’s WLFI has increased its holdings by 759 ETH. Oh no, did Trump buy at the bottom?

Last night, BTC retreated sharply, breaking the 30-day moving average of 98.7k and temporarily reaching around 96k. It turns out that a paper tiger is also a tiger. For reasons related to the macro situation, friends who follow my recent articles and join the internal group should be clear:

One is the panic caused by Google's Willow quantum computer some time ago.

Second, the Federal Reserve gave negative expectations for future interest rate cuts in the early hours of yesterday. The next 1-2 weeks will be the stage for digesting this news.

Bitcoin drops to 95,700, how low will it fall? Where is the bottom?

If we look at the K-line, we will find that BTC has been trading sideways at a high level for 35 days. And the bottom is getting higher and higher. Although it broke through 100,000 and fell to around 90,500 on December 5, the subsequent declines were stable above 94,000 until the black swan appeared at the Federal Reserve meeting. There is also an expectation that the United States will include BTC in its strategic reserves.

On Thursday, boosted by the Federal Reserve FOMC meeting, Bitcoin fell back to the 30-day moving average of 98,700, and rebounded naturally to around 102,000 in the evening. The crypto market fell back across the board, and most of them fell below the 30-day moving average. US stocks MSTR, SMLR, and MARA also maintained their gains before the market opened, as shown in the following figure:

Because the Federal Reserve and Japan's interest rate meetings have ended. Although Powell's speech this morning was negative, Japan stopped raising interest rates during the day. Bitcoin rebounded, and Japan's Micro Strategy 3350 also closed higher. As the insider said last night, the current market is in a high-level shock consolidation period after the extreme Fomo period. It is believed that BTC will still have a rising trend in Q1 next year, so now is a good time to buy stocks such as MSTR at the bottom.

Today, the main market made a counterattack!

A single sentence from Powell caused the Nasdaq index to crash by 3.61%, close to its largest decline in recent years. Moreover, Powell's hawkish remarks don't stop there! He specifically criticized the cryptocurrency space, stating that the Federal Reserve cannot hold Bitcoin. This caused Bitcoin to drop by 5%, which is simply terrible.

This is a hard sell-off! No one can predict what he said; it's like a bolt from the blue. It's not just retail investors; even Wall Street can only stand still and take the hit. The main reason for this crash is that Powell indicated there won't be many interest rate cuts next year, possibly only two cuts, causing various assets to drop. However, Bitcoin's drop is similar to that of the Nasdaq index, with not much additional decline. The moving average indicator shows that the four-hour chart has fallen to a dense support range. The only way to break below it would be a real black swan event; otherwise, all declines are just paper tigers!

After the announcement of the U.S. Federal Reserve's interest rate decision today, the crypto market began to dive, with Bitcoin plummeting and almost falling below the $100,000 mark, and Ethereum also falling to $3,617.

Since reaching 90,000, this round has experienced three rapid declines. Today's decline is the fourth one. It can be said that the first three declines consumed a large amount of buying. Therefore, there were not many buying orders after this decline. Instead, there was a negative decline after sideways trading, which is equivalent to burying another wave of bottom-fishing funds.
In the past 24 hours, $709.43 million of positions were liquidated, and a total of 249,061 traders were liquidated.

Today, Bitcoin retraced intraday, confirming strong support at 103,000. This morning, I guessed the lowest retracement would be around here, specifically adjusting the defense level from 103,000 a couple of days ago to 102,800. The current market price is 105,300, and low buys are already showing a profit of 1,300 points (if only catching the third entry point, it's already 2,300 points). The conservative can take some profits, like 20%.
At 11 PM tonight, the Federal Reserve will hold a meeting to discuss interest rates. Let's see if there can be a breakthrough. The last rebound was due to CPI2, and the altcoins have been falling without rising for 8 days. Bitcoin's new high has not accelerated, and the boring market may continue. If there’s a sharp dip, we can set a midpoint at 101,888 and a daily Bollinger middle line at 100,450. After reaching here, it will quickly pull up.

Bitcoin paused its rise after initially breaking the $108,000 mark, with traders waiting for the Federal Reserve's possible rate cut decision while assessing the optimism brought about by President-elect Donald Trump's support for cryptocurrencies.
Bitcoin reached an all-time high of $108,315 on Tuesday, but had fallen back to around $106,400 by Wednesday morning. According to CoinGecko, this round of gains brought the total market capitalization of digital assets close to $4 trillion.

Trump has promised to implement friendly cryptocurrency regulations aimed at establishing U.S. dominance in the crypto space and supporting the creation of a strategic national Bitcoin reserve. Additionally, the impending inclusion of MicroStrategy in the Nasdaq 100 index has also boosted market sentiment. The company primarily invests in Bitcoin by raising funds, and the potential rise in its stock price has attracted more attention.

In the past few days, Bitcoin has been continuously breaking new highs, and Ethereum has also been breaking through. The overall market is steadily climbing, with Ethereum and Ripple performing relatively strong, while other mainstream and large altcoins are generally being drained. Funds will only flow to other mainstream and large altcoins after Bitcoin stabilizes and consolidates. However, Bitcoin hasn't seen much volume increase during its rise, and the current trend still has the potential to continue rising, with the possibility of hovering around 110,000 in the short term.
Bitcoin is expected to consolidate around 105,000, maintaining a steady trend of breaking new highs, but unfortunately without volume. If there's no significant volume to pull it up, it’s merely being lifted through draining, so be cautious of a pullback. A slight increase and consolidation are quite similar, both are testing the market. In a bull market, don’t call for a top, and don’t short when bearish. At this moment, the higher points are critical points in large integer positions, testing and breaking through one by one. This breakthrough will bring pullbacks for solidification, so don’t rush to add positions during pullbacks, and avoid chasing prices up, after all, it’s always comfortable when someone is on guard at the mountain top.

The key on-chain metrics for Dogecoin have significantly increased, indicating that despite price consolidation, trading activity is still on the rise. In the past week, the average transaction size surged, reaching a 7-day high of $33,411 on November 12, 2024, while continuing to hover around a 7-day average of approximately $11,960.
This sharp increase suggests that the network is being dominated by larger exchanges, which may be a sign of increased interest from institutional investors or whale activity. Dogecoin's volatility has also significantly increased, peaking at 147% on the 30-day chart.

This indicates high price volatility, which typically precedes significant market fluctuations. In the past, before the increase in Dogecoin's volatility, there was either a major pullback or a strong rebound. A key phase can be observed from the market perspective of Dogecoin's price chart. Dogecoin saw a significant rise in November and is currently trading at around $0.40. After encountering resistance near $0.48, the asset subsequently consolidated within a downward channel.

In the past week, Bitcoin has begun to accumulate momentum for an upward attack, withdrawing 95% of the market's liquidity, causing altcoins to fall but not rise, including ETH. This is normal after all, there is no off-market capital inflow now, and it is the on-market funds that are pulling up the market. So when Bitcoin reaches the 109,300 range, there will be a few days of consolidation time. Let's see if the altcoins can seize the opportunity to pull out a round of strong compensatory rally.

Today, let's summarize

I will select two in the comment area and leave a message to make a detailed graphic analysis for everyone

1.jto

SOL is a good coin in the ecosystem. It is considered strong in this wave, but the exchange rate of SOL against Bitcoin is not very good, and the MEME above it is not very good either. It is recommended to wait and hold it for the long term. There is no problem.

Sun Yuchen's deposit of $37.3 million into EIGEN indicates his confidence in its future.
In the past 24 hours, EIGEN's price increased by 11.69%.

EIGEN's recent market activity is impressive, with its price rising by 11.69% in the past 24 hours to reach $5.23. During this period, the cryptocurrency fluctuated between a low of $4.69 and a high of $5.23, reflecting a certain level of price volatility.

However, despite these fluctuations, as of the time of writing, EIGEN's market capitalization remains at $1.08 billion—up 6.72%, enhancing its appeal to investors. In fact, just four days ago, on December 12, 2024, this cryptocurrency reached an all-time high of $5.38.

Brothers, the price of Bitcoin has reached 107,790 and is about to reach the second target of 109,300. The total market value of the entire cryptocurrency market has also reached 3.8 trillion, with Bitcoin accounting for 55.6%, which is 2.1 trillion. Currently ranked seventh in the world, only 0.32 trillion away from sixth place Google. I believe it will have a chance to surpass it this month.

Then the opportunity for altcoins is coming.

In the past week, Bitcoin has started to build momentum to rise, withdrawing 95% of the market's liquidity, causing altcoins to fall without rising, including ETH, which cannot rise. This is a normal phenomenon since there is currently no off-market funding inflow, only on-market funds are pushing up. So, the next time Bitcoin reaches the 109,300 range, it will have a few days of consolidation, let's see if altcoins can seize the opportunity to stage a strong rebound.

A 24-year-old female TikTok creator: TikTok creator Catherine Colivas, along with three men, kidnapped a member of the Saudi royal family in February last year and extorted $40,000 worth of Bitcoin.
Although the judge believed the crime was serious, Catherine escaped a maximum sentence of 25 years in prison. She received a lighter sentence for the following special reasons:

Catherine is still very young
Catherine had a difficult upbringing
Catherine's mental health is very fragileCatherine's brother passed away during her trialAnother woman involved in the case, Paris Kennedy, pleaded guilty and was released by the judge after serving 90 days in prison for 'showing genuine remorse and good behavior in prison.'