#加密生态动态追踪 **Read on December 11th Afternoon BTC Price Movements**

**Fundamental Data Overview**

Yesterday, $220 million flowed into spot ETFs, with BlackRock taking $193 million of that—sounds impressive—but a closer look reveals that ETFs are still experiencing a net outflow overall, indicating institutions are just holding onto positions, though their attitude remains cautious. On the short side, liquidation over the past month has reached $3.66 billion, nearly 50% more than longs. Currently, with BTC approaching the $90,000 mark, shorts are feeling squeezed, which could lead to some upward pressure.

From a macro perspective, although the Federal Reserve cut interest rates, they quickly adopted hawkish tones. The dollar index rebounded in a V-shape, suppressing BTC, but interestingly, US stocks and gold are rising simultaneously—risk assets are attracting funds, which could be slightly bullish for digital assets.

Technically, the 4-hour chart’s MA20 moving average is around 90,500, acting as a dynamic support. The previous low at 89,500 has repeatedly proved to be a solid support level.

**Market Outlook: Mainly Consolidation, 92,000 May Be Challenging to Break**

The current price is 90,200, trapped within the core consolidation range of 89,500 to 91,800. Institutional support and short covering have strengthened the rebound momentum. Most likely, the afternoon will see sideways fluctuation with a weak rebound—unlikely to break decisively in one direction. However, the 91,800 to 92,000 zone is a dense resistance area from previous trading. With ETF growth slowing and the dollar rebounding, a breakout above 92,000 lacks the volume to sustain.

**Trading Tips**

For those bullish, consider trying within the 9,000 to 9,030 range, but don’t be greedy (keep positions under 20%), and wait until the 1-hour volume increases by over 15% before acting. Don’t jump into false support traps. If the price falls below the strong support at 89,500, abandon this wave and wait for a stable level around 89,000.

Set stop-loss strictly at 89,200; if broken, exit immediately. We’ve seen chain reactions of support failure before, so don’t gamble. Take profit in two steps: first at 91,000 (short-term resistance), then at 91,800—this is the true boundary between bulls and bears. Once reached, consider closing remaining positions. Greed is the most costly mistake in trading.