#Gate广场圣诞送温暖 Combined with market analysis perspectives, this week presents a typical "pre-intensive, post-vacuum" structure for the US and encryption markets: Thanksgiving and Black Friday will compress effective trading days, concentrating all core data between Monday and Wednesday. Meanwhile, the delay in data due to the government shutdown and the absence of October non-farm data have made the market heavily reliant on high-frequency employment data, and the decrease in the weekly initial jobless claims released today by the US indicates that the employment situation has not worsened.

Although institutions generally expect that the probability of the Federal Reserve lowering interest rates in December is very high, some institutions believe that there is still a chance for the Federal Reserve to pause rate cuts. The intensive speeches by Federal Reserve officials before the blackout period on November 29 will further amplify short-term macro volatility.
In this context, the encryption market continues to digest the deep adjustments since October, with Bitcoin retreating about 30% from its highs, ETF funds experiencing persistent net outflows, Cb premiums weakening, and overall risk appetite remaining low.
The structure of the derivatives market clearly confirms this defensive posture: the tension in the options market has significantly eased, with the premium of one-month put options relative to call options plummeting from 11% (the high point of 2025) last Friday to about 4.5%.
Technical indicators show oversold conditions: Bitcoin's 14-day Relative Strength Index (RSI) has fallen to 32, below early October levels, nearing the oversold range.
Implied volatility returns to April levels: indicating that traders are preparing for breakthrough volatility. Overall, it is currently at the tail end of a down phase, but the risk appetite has not yet recovered. If this week's data continues to show marginal weakness in consumption and employment, but does not trigger concerns of a "hard landing," it may bring about a technical recovery; on the contrary, in an environment with extremely thin liquidity during the holiday, it could still trigger a short-term sell-off.
Short-term outlook: Critical points and opportunities. From a technical perspective, Bitcoin's short-term support level is at $80,000, with the resistance range between $90,000 and $95,000. Whether it can break through this resistance zone will determine the sustainability of the rebound.
Option skew ( shows that bets on a rebound from the current level are strengthening compared to further declines. At the same time, BlackRock's Bitcoin fund ) IBIT ( has also seen a significant decrease in short positions, indicating a weakening of bearish sentiment. Although the overall market sentiment is cautious, funds are shifting from single price games to a structured allocation around the three core logics of "liquidity efficiency - yield generation - information pricing." Signs of capital rotation have already been observed in sectors such as stablecoins and perpetual derivatives.
Industry Perspective: Finding Opportunities in Panic
In an environment of increasing market volatility, Molly stated that "between compliance and innovation, we believe this is not a question of one or the other, but rather a matter of multiple systems operating in parallel and improving individually. In the long run, our value is to screen trustworthy and high-quality assets for users." She further pointed out that the current market phase is characterized by a transition from "panic" to "hope."
Analysis suggests that crypto investments in 2025 should focus on platform ecosystems, pay attention to the integration of AI and Web3, maintain a high level of policy sensitivity, and adhere to long-termism. The crypto market has never lacked opportunities, but what truly changes fate is whether one can seize the dividends of consensus. Staying calm amid volatility, seeing opportunities in panic—this may be the best strategy in the current market environment. As the global crypto market continues to evolve, trading platforms are the crucial hub connecting users, innovation, and the future digital asset ecosystem.