Market Analysis:

The short-term market will continue to oscillate downward, with trading volume steadily shrinking. The bearish trend remains dominant, rebounds are weak, frequent liquidations of long positions occur, and panic sentiment has slightly increased.

Macroeconomic Factors:

1. U.S. stocks closed higher overnight but with narrower gains. However, the positive effect of the stock rebound has not transmitted to the crypto market. Instead, due to rising hawkish expectations from the Federal Reserve, funds are withdrawing from high-risk crypto assets and shifting to low-risk sectors.
2. The total net outflow of BTC spot ETFs has increased, and ETH faces repayment pressure from institutions, leading to increased institutional disagreement. However, the overall trend of exiting the market has not changed. Short-term rebounds are weak, and no effective bottom-fishing funds have appeared.

Trading Recommendations:

Attempt Long Positions: BTC around 69,300, ETH around 2,060, with light positions and stop-losses;

Attempt Short Positions: BTC above 72,500, ETH above 2,180, with light positions and stop-losses.

Special Reminder: Do not be fooled by short-term small rebounds. Strictly control your positions, avoid greed and impatience. Saving money for the New Year is the most important!