[Wintermute: Market consolidates in a volatile range, crypto activity narrows to BTC and ETH] Wintermute stated that the market is consolidating within a volatile yet more resilient range, with crypto activity narrowing to BTC and ETH. Retail and institutional capital flows show a positive tilt, with relatively low leverage. BTC has rebounded to around $92,000, and the total market capitalization of the crypto market has recovered to approximately $3.25 trillion. Last Friday, BTC experienced a sharp drop of about $4,000 due to cascading liquidations, with approximately $2 billion liquidated. Weakening momentum in Nasdaq has driven capital flows toward BTC and ETH. Influenced by meetings of the Federal Reserve and the Bank of Japan, the market is awaiting macro clarity, and the compression of basis indicates limited directional leverage exposure.

[Powell Plans to Push for Rate Cuts, Half of Fed Officials May Oppose] Federal Reserve officials will hold their final interest rate meeting of the year on Tuesday local time. Despite the possibility that up to half of the members may not support a rate cut, Chairman Powell is still prepared to push for it. Powell may lower the interest rate by 25 basis points to the range of 3.5% to 3.75% and signal higher thresholds for future easing through changes to the post-meeting statement. Currently, as many as 5 out of the 12 voting members have expressed that they do not see a strong justification for a rate cut.

[Viewpoint: Bitcoin Spot Demand Declines, Bear Flag Pattern Target Price $67,000] The Bitcoin daily chart has formed a bear flag pattern. If it breaks below the lower boundary of $90,000, it may drop to $67,380. Trader Roman stated that the current consolidation is preparing for a downward move. A Glassnode report pointed out that the cumulative spot trading volume difference for Bitcoin has dropped to -$111.7 million, and spot ETFs have shifted from a net inflow of $134.2 million to a net outflow of $707.3 million. Data from Farside Investors shows that ETFs saw an outflow of $60 million on Monday.

[BRN Director: Market in Wait-and-See Mode Ahead of Fed Decision, Early Signs of Recovery Emerging] BRN Research Director Timothy Misir pointed out that U.S. cryptocurrency ETF fund flows reflect selective positioning. Although Bitcoin is underperforming, altcoins are attracting capital. The stabilization of active address numbers and the increase in transaction volumes indicate early signs of recovery, but market confidence remains lacking. Traders are generally in a wait-and-see mode ahead of Wednesday's FOMC meeting. Weak employment data supports rate cut expectations, but household pessimism and record-high credit levels complicate the demand outlook.

The UAE's national security department has stated that Bitcoin is a key pillar of future finance. （Cointelegraph）