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Today, the cryptocurrency market continued yesterday's weakness, with BTC falling further below $85000 (lowest $83824, now reported at $86995, -0.52%), ETH falling to $2815 (-1.34%), the overall market value falling below $3 trillion (now 3.01 trillion, -5.2% continuation), and the total leveraged liquidation amount exceeding $974 million (over 260000 people liquidated within 24 hours).
The panic and greed index remains at 24 (extreme panic). Main drivers: The Fed's QT has officially suspended (expected positive liquidity injection, but wait and see before Powell's speech), the People's Bank of China's reiterated ban has intensified Asian selling pressure, institutional selling+macro risk aversion. Historical data shows that the median monthly decline in BTC in December was 3.2%, but ETF inflows may turn around.
1. The People's Bank of China reiterates the ban on cryptocurrency, warns of the illegal and money laundering risks of stablecoins, and the Hong Kong stablecoin stock market crashes (First Digital plans to list on SPAC).
2. Federal Reserve signal: QT officially ends (3-year liquidity pull-out), Powell's speech today (theme "Economic Outlook and Monetary Policy"), Polymarket shows 87.6% probability of a 25bp interest rate cut in December. Goldman Sachs/Bank of America: Interest rate cut 'basically set', data dependence may lead to crypto rebound.
3. Short term volatility intensifies (Powell speech+SEC speech+GENIUS proposal), but QT ends+interest rate cuts+ETF rebound may catalyze the midline.
Follow the support below: BTC85000; ETH 2780； If the upward trend is not broken, it is still promising
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.