The first day of December brings a big surprise‼️‼️‼️‼️‼️

On the first day of December, the cryptocurrency market is showing a "macro policy shift + regulatory tightening + technical breakdown + leveraged liquidation" pattern of multiple negative resonances, returning to a unilateral trend, which can be considered a good start. Over the weekend, the long position at 90800 was just a small nibble; if it weren't for taking profits, the market would have floated above water on Monday. This is trading: retreat promptly when the situation is not right. Can the new low at the 80000 level hold up during the day?
The price of Bitcoin has fallen by over 4.7%, marking the largest single-day drop in recent times. The main drivers are the significant cooling of expectations for the Federal Reserve to cut interest rates in December, coupled with heightened regulatory scrutiny and the market's high leverage vulnerabilities, leading to a collapse of market confidence. Current macro uncertainties are still ongoing, and the market may require a longer time for repricing and structural reconstruction. Future points of interest include the Federal Reserve FOMC meeting on December 11, inflation data in late December, and the implementation of global regulatory policies, which will determine whether the crypto market can stabilize and rebound before the end of the year!
$BTC Bitcoin daytime trend
The price of Bitcoin has been consolidating around the high range of 90,000-91,500 over the weekend. This morning, the price sharply dropped from around 91,200 to near 86,500. The price of Bitcoin had attempted to break through the strong resistance area of 92,000-93,500 but failed. During the relatively low liquidity of the weekend or early morning session, the market can easily experience significant price fluctuations. The sharp drop this morning is likely triggered by short-term long position stop-losses and profit-taking after a prolonged struggle at the key resistance level. Throughout the day, it is important to closely monitor whether the price can quickly reclaim the 88,000 level, as well as the effectiveness of the more critical support around 86,000. If it rebounds above 90,000 and stabilizes, it may return to the consolidation range of 91,000-91,500. However, if it falls below 86,000 again, it may test the institutional cost area of 84,000-85,000. The key focus for the day is on the rebound and recovery after the sharp drop!
The large pancake is bullish in batches around the 84500-85000 area, aiming for 86800-87500, and if it breaks through, it will continue to look up to 89000$ETH #十二月降息预测 .