12.12 Cryptocurrency Market Watch: Bitcoin Rebounds, Bulls and Bears Clash

Today’s Key Insights

Bitcoin today shows a strong rebound, breaking above $92,000, but the battle between bulls and bears remains intense in a critical zone
Price Dynamics and Key Data

Bitcoin performed remarkably today, rebounding strongly from yesterday’s lows around $89,200, currently climbing above $92,000. According to the latest data:
Current Price: $92,159 (+2.21%)
24-Hour High: $94,155
24-Hour Low: $89,776
Liquidation Data: Over 100,000 traders liquidated within 24 hours, amounting to $262 million
Technical Position Analysis: Key Defense and Attack Zone

The market is in a highly sensitive technical decision period, with Bitcoin engaging in fierce battles at the following key levels:
Key Level Price Range Technical Significance
Strong Resistance $93,000–$94,000 Multiple attempts to break through failed, heavy selling pressure
Core Support $88,000–$89,000 Bulls’ lifeline; losing this may lead to deep correction
Secondary Support $91,000 Current rebound confirmation level
Macroeconomic Factors and Institutional Views

Behind today’s rebound, multiple macro factors are at play:
Federal Reserve Policies: Initial jobless claims data strengthen expectations of rate cuts, easing market concerns
Institutional Views: Raoul Pal considers this a normal correction, not the start of a bear market
Miner Dynamics: Some older mining machines have reached shutdown prices, supply contraction may support prices
Market Outlook and Risk Warnings

Overall, Bitcoin’s rebound after gaining strong support in the $88,000–$89,000 zone temporarily alleviates market panic. However, the validity of the $93,000–$94,000 resistance zone still needs to be tested, and short-term high volatility may persist. Investors should pay close attention to:
Tonight’s Fed officials’ speeches and their impact on policy expectations
Breakthroughs at the $93,000 resistance level
Changes in spot ETF capital flows
“In the crypto market, every squat is for a higher jump”

Key!!! Core Factors Driving the Rebound

Recently, Bitcoin’s rebound is no accident, but the result of multiple macroeconomic factors and internal market forces.
1. Macro Policy Expectations
The Federal Reserve’s initial jobless claims data reinforce expectations of rate cuts, easing asset price pressures.
2. Institutional Influence
Renowned investor Raoul Pal considers this a “normal correction,” not the start of a bear market, providing confidence support for the market.
3. #Miner Dynamics
Some less efficient “old mining machines” have reached shutdown prices, and supply contraction expectations provide bottom support for prices.
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