#美联储重启降息步伐 $BTC is currently stuck in the $91,000 to $95,000 range, with both bulls and bears holding back their big moves—whoever gives in first could trigger a waterfall or rocket signal.

Recently, the macro environment has been a bit delicate. With the Fed’s December meeting approaching, the market is growing more anxious about the expectation of “higher-for-longer” interest rates, the US dollar index is stubbornly holding its highs, and liquidity is extremely tight. However, if we suddenly see an unexpectedly sharp drop in inflation data and $BTC breaks through $95,000, the short camp’s forced liquidations could push the price straight up to $98,000 or even $100,000—these short-squeeze rallies can come fast and fierce. On the flip side, if the nonfarm payrolls data is much stronger than expected or there’s a sudden conflict in some region, breaking below $91,000 could trigger a domino effect of long liquidations, and we’ll have to see if $88,000 to $89,000 can hold.

The technicals are even more interesting: futures open interest is highly concentrated in this range, institutions are piling into put options for protection, US spot ETFs have seen several consecutive days of net outflows, and stablecoin balances on exchanges are shrinking. Taken together, are these signals suggesting that off-market capital has no intention of bottom-fishing right now?

The next few days could be very exciting. It’s recommended to keep a close eye on Fed officials’ speeches and large on-chain transfers.