Pakistan: Minister Suggests Country to Purchase Bitcoin as Reserve

Click on the link to enter the meeting: https://meeting.tencent.com/p/6321551049 Today, the cryptocurrency market continued its adjustment trend, with Bitcoin (BTC) fluctuating narrowly within the range of $88000-92000, with a 24-hour increase of about 0.5% -1% (rebounding from yesterday's low), a total market value of about $2.95 trillion, and a Fear&Greek index rising to 25 (still in extreme fear). Ethereum (ETH) is hovering around $3000, with an increase of approximately 0.8%. Shanzhai coins are diverging, with BCH leading the way (+40% within the year), followed by SOL/XRP and others showing a slight rebound, but overall trading volume is sluggish, and the leverage liquidation scale has dropped to about $500 million. On chain data shows that the stock of BTC on the exchange has hit a new five-year low (with investors continuing to buy), and LTH (long-term holders) have accumulated actively, but small retail investors have significantly reduced their holdings. The probability of a rate cut at the Federal Reserve FOMC meeting (December 9-10) is 92%, which may become a key catalyst. 1: BTC rebound expectations strengthened: BTC rebounded from yesterday's low of $83800 to around $89500, smoothing out some of its November decline (a 17% monthly drop). The market panic has surpassed fundamentals, and BTC is approaching critical support ($86000-88000), making December a bold entry point for investors. The "activity" indicator on the chain has rebounded, indicating a precursor to the historical bull market; The SOPR ratio remains stable at 1.2, indicating reduced selling pressure. If we hold onto 86K, we may test 93K next week; otherwise, we may explore 83-85K. 2: Continued outflow of ETH ETF: ETH ETF had a net outflow of 75.21 million US dollars yesterday, hovering below 3000 US dollars. At the same time, ETH rebounded strongly to 3140 after hitting the key support of 2900, showing an N-shaped upward trend and reaching the 0.5 Fibonacci level. 3: 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; Core support level: BTC86-88K ETH 2.88K-3K Target: Weekly EMA50 BTC100K ETH3.65K 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.

[IG Group Analyst: Crypto Market Likely to Extend Rebound After Rate Cuts, Short-Term Bottom May Have Formed] IG Group analyst Chris Beauchamp stated that as the Federal Reserve is expected to initiate rate cuts this week, Bitcoin and other cryptocurrencies are likely to continue their rebound. Easing monetary policy could drive capital inflows into the crypto market, and the recent pullback has created more attractive entry points. The weekend decline in Bitcoin and Ethereum attracted buyers, suggesting that a short-term bottom may have formed.

[BitMine Increased Holdings by 138,452 ETH Last Week, Total Holdings Exceed 3.86 Million ETH] As of 8:00 PM Eastern Time on December 7, BitMine's cryptocurrency holdings include: 3.864951 million ETH (an increase of 138,452 ETH compared to last week), valued at approximately $13.2 billion at current prices; 193 BTC; $36 million worth of Eightco Holdings (NASDAQ: ORBS) shares; and $1 billion in unsecured cash.

JPMorgan CEO Jamie Damon said that stablecoins should play a better role in the international payment field. （Watcher.Guru）

[Goldman Sachs: The Fed Will Cut Rates This Week but Keep Language Open, Employment Data to Determine January Policy] Goldman Sachs Chief U.S. Economist David Mericle believes the Federal Reserve is very likely to cut rates this week and will not completely rule out the possibility of taking action again in January next year. Mericle pointed out that it is unrealistic to expect the FOMC to signal a 'pause in rate cuts in January.' If the labor market weakens, rate cuts would still be appropriate. Since no new employment data has been released since September, policymakers will remain cautious and keep their language open, leaving room for easing in January based on the data.