At dawn, the crypto market suddenly experienced a severe fluctuation. It rapidly dipped from around $93,000, hitting a low of $88,000, with a fall of over 5%; it also lost the $3,100 level; furthermore, it broke through the $420 support level. This round of adjustment caused nearly $100 billion in funding to evaporate across the network within 24 hours.

The trigger for market volatility is quite complex. On a macro level, ahead of the Federal Reserve's interest rate meeting in December, expectations for interest rate cuts have sharply reversed—traders have priced in the probability of rate cuts dropping from about 88% to around 40%, increasing the likelihood of a prolonged high interest rate environment, which puts pressure on all risk assets. At the same time, the U.S. has once again signaled trade friction, with news of additional tariffs on specific sectors escalating global risk aversion.

The changes in the funding aspect are also worth paying attention to. Bitcoin spot ETFs have seen a net outflow for several consecutive days, and the withdrawal of institutional funds has intensified the market's fragility. Coupled with high leverage positions concentrated in the 90k-93k range, the rapid price decline triggered a series of liquidations. On the technical chart, this price range has formed a typical bullish trap structure.

However, historical experience tells us that deep corrections during a bull market cycle are often the norm. #数字货币市场回升 If it can stabilize in the previous low range of 81k-84k, and $BTC form effective support around $2,880-$2,980, the market still has room for recovery. As for $ZEC, although it has temporarily fallen below key levels, with the halving event approaching in December, the narrative logic of the privacy coin sector has not completely collapsed.

At this stage, managing emotions is more crucial than accurately timing the bottom. In a volatile market, controlling positions, setting stop losses, and avoiding chasing highs and cutting losses are the correct ways to navigate through fluctuations. What do you think of this round of adjustments? Can you still hold onto your chips?