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Today, the overall cryptocurrency market showed a fluctuating downward trend, with Bitcoin (BTC) prices falling back to the range of about $89000-90000, down about 2.5% -6% from last week's high point, and Ethereum (ETH) falling 3.74% to around $3000. The total market value is about 3.23 trillion US dollars, down 1.1%, with a trading volume of 114 billion US dollars. The Fear&Greed Index is still in the 'fear' zone, but there are clear signs of slowing institutional inflows and a surge in clearing volumes in the derivatives market.
1: BTC Leads Downward: BTC rebounded from $81000 last week to $94000 before falling back, with a 2.52% drop today to $89567. BTC has fallen nearly 30% -36% from its historical high of $126000 in October. Currently entering a short-term bear market structure.
2: Macro impact: The market is waiting for Friday's US PCE inflation data. If the data is moderate, it will strengthen the expectation of a Fed rate cut in December (Morgan Stanley predicts a 25 basis point rate cut). The closing of yen arbitrage trading has intensified volatility, and digital asset related stocks in Asian stock markets have fallen. The People's Bank of China warns against illegal activities and further suppresses emotions.
3: Today's news mainly focused on volatility and regulation. The BTC pullback is a healthy adjustment, but the expectation of interest rate cuts and institutional inflows provide support. Short term vigilance against macro shocks, medium - to long-term AI/DeFi narrative may drive rebound
If BTC stays at 86k and ETH stays at 2.8k, the probability of a strong rebound in December is high. Maintain position management. At present, the market structure still maintains an upward trend, with support provided by the news side; Control the position and maintain a good profit and loss ratio;
Tonight we will talk about the trend and layout of the market, teach indicators, deviate from techniques, follow the live broadcast room, take you through bull and bear markets, welcome to interact.
Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.