Under the double pressure of global bond market turmoil and uncertain economic prospects, the cryptocurrency market fell sharply for the second day in a row. After falling below the 0.1 million dollar mark, Bitcoin continued its decline today (9), breaking 0.093 million dollars at one point. The increase since the beginning of the year was almost completely lost, and at the time of press release, it had recovered to around $93,000.

This trend is closely related to strong economic data events released by the US, including a surge in the number of job vacancies and the performance of the manufacturing industry exceeding expectations. These data further reinforce Lao Bao's view that inflation may be effectively controlled this year without adopting an aggressive interest rate cut strategy.

However, the minutes of the US Federal Reserve meeting released today further show that customs officials are generally willing to keep interest rates unchanged at the upcoming meeting at the end of this month. As a result, the market adjusted expectations for the Federal Reserve's future monetary policy, and risk assets fell under pressure.

Moreover, the 6.5 billion dollar bitcoin seized by the Silk Road can be sold on the market, causing quite a blow

Can Bitcoin's short-term rebound be expected?

Today's wave of decline brought Bitcoin prices back to the lower end of the consolidation range since the end of November last year. However, Bitcoin is still expected to rebound from a low point in the short term, and it may also continue to fluctuate within the range. It will not have a chance to reach a new high until the pressure is absorbed.

But that doesn't mean the market is completely bearish. The current market is very irritating, but you need to know that the big one is on its way! The pullback is only a temporary resurgence. Trump's inauguration on January 20 will bring optimism to the market. This is a big advantage, and the market is also expected to set off another wave of upward momentum.

Let's take a look at the US that will be announced on FridayNon-farm payrolls dataAs well as the interest rate decision meeting to be held by the Fed at the end of the month, these events will all become key catalysts affecting Bitcoin's trend.

Also, the technical side was mentioned yesterday. Currently, there are still 92,000 US dollarsSupport levelYes, in fact, when the price falls below 100,000 US dollars again, we should have seen this 92,000 US dollars, because the fluctuation of this box is obvious. If the upper part cannot break through, the probability is that it will retreat to the lower support level. Therefore, once the lower support level can be supported again, then there is still a chance to test the upper resistance again, and there is also a chance to stand in the 100,000 US dollar position again.

Can I read the bottom now?

The current market will be adjusted, but there is still a possibility of a rebound, so we can prepare to bottom out in batches.

Since Bitcoin broke through the 10w mark after the 11.5 US election, none of them have effectively fallen below the 9w mark. Although it is not a copper wall, it has met desperate resistance from the bulls. Once it rebounds to 9.6-9.7w, it will rush to 10w as soon as it breaks through 98200. Therefore, 93300-92000 is still the short-term bottom-line range.

However, it is important to note that there are also non-agricultural data, unemployment rates, etc. this week. If it is beneficial to continuing to cut interest rates many times, then it will rise; if it is not conducive to continuing to cut interest rates many times, then the market is likely to continue to fall. The details still depend on whether the market can reverse after Friday's data is released.

The current market situation is not stable. We should try our best to choose the currency with the highest market capitalization to lay out the layout. Those seeking stability will mainly choose ETH, BNB, and SOL. Compared to other counterfeit, the wave will be quite large. Other than that, we must pay attention to strict take-profit and stop-loss measures!

The Silk Road coin sale, Trump's remarks, and expectations of interest rate cuts were all negative; they all only reached twists and turns between 13w and 15w. If you invest with a long-term mindset, no one can cut you! I strongly believe in the saying: everything that happens will benefit me. This is how all the years have passed. Panic in a basket!