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Recently, the entire crypto market has felt like it was hit with the pause button. Bitcoin has been fluctuating between $88,000 and $93,000, Ethereum stuck around $3,100 without much movement, BNB hovers at $886, and Solana keeps circling around $132. As the year comes to an end, market liquidity has noticeably dried up, and the total cryptocurrency market cap has fallen to approximately $3.1 trillion.
Interestingly, although prices have been relatively flat, the flow of ETF funds reveals a different signal. On Monday, Bitcoin ETFs saw a slight outflow of about $600,000, while funds for Ethereum, Solana, and XRP collectively attracted a net inflow of $740,000—suggesting that capital is rotating into altcoins.
In plain terms, everyone is now waiting for one person to speak: Federal Reserve Chair Jerome Powell. Although tomorrow’s FOMC meeting almost guarantees a rate cut, what truly influences the market is not whether there will be a cut but Powell’s stance on policy direction for 2026—whether to continue tightening or shift towards easing. That’s the real key.
Some analysts have straightforwardly said that the market is now "waiting for the launch." Expectations of rate cuts have already been priced in, but subtle changes in policy guidance will determine the real trend moving forward. Before Powell’s speech, Bitcoin is likely to hover around $91,000.
Another signal not to be ignored is the quietness in the derivatives market. QCP Capital data shows that over the weekend, Bitcoin surged from $88,000 to $92,000, and ETH from $2,910 to $3,150, indicating how thin liquidity is at the end of the year. Even more extreme, Bitcoin’s open interest has plummeted over 44% since October, and Ethereum’s open interest has halved, dropping over 50%. Leverage players are retreating in large numbers.
So, what’s next for Bitcoin?
If Powell signals a hawkish stance or uses cautious language, BTC might retest the $88,000 level. However, if he hints at room for rate cuts early in 2026, prices could push towards $93,000–$95,000, with strong momentum even testing the highs of $97,000–$106,000.
In summary, the market is currently at a standstill—what happens next depends entirely on what Powell says tomorrow.
Funds are rotating into altcoins? Then I need to see if there's an opportunity. Anyway, it's no fun to keep sharpening the sword with BTC.
44% leverage contracts have been liquidated. So many people getting wiped out? Luckily, I didn't play such aggressive stuff, so my mindset is much better.
Just waiting for tomorrow to make a final decision. 89k or 95k, it feels like these two price levels are being pulled back and forth.
Derivatives are so quiet, it really feels like there's no enthusiasm anymore. The end of the year is indeed tough.
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Leverage plunged 44%, this time it's really a bit scary.
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Waiting for rate cuts, waiting for hawkish signals, it's really all up to one person's word.
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Altcoins are bleeding, Bitcoin is being neglected, rotation is really happening.
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With liquidity so thin, still daring to go long? Truly brave.
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I bet on the 91k level; if it can't break through, it will go further down.
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Watching Powell's speech tomorrow is more useful than looking at candlestick charts.
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This is how it will end the year—blame liquidity or macroeconomics.
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Unclosed positions halved, leveraged players have collectively surrendered.
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Let's wait and see; anyway, I don't even want to move now.
Altcoins are draining liquidity; I believe this rotation is promising.
I bet Powell will be hawkish; BTC will retouch 88K, waiting to buy the dip.
Honestly, derivatives are so quiet, indicating that the underlying players have all given up.
Liquidity is so thin that this volatility is purely a signal of trapped retail investors.
Leverage liquidations are happening all the way to grandma's house; no wonder the coin prices are so weird.
Waiting for one person to speak and decide the market—this market is still too young.
Bitcoin stuck at 91K is just waiting for a signal; Powell has become the market maker.
ETF inflows are quite deceptive; funds are quietly flowing into smaller coins, hmm.
Liquidity dried up by the end of the year; no wonder everything is dragging and not moving.
As soon as Powell opens his mouth, I guess another big plunge is coming
Altcoin rotation is pretty interesting, finally someone dares to play
With so many leveraged liquidations, no wonder it's so dull
If tomorrow's hawkish comments push the price below 88k, I’ll really laugh
Can't wait anymore, brother. Liquidity is so thin that any negative news can crush it
Funds are flowing into altcoins, indicating that no one trusts Bitcoin right now
97k? Delusional, stop dreaming
Funds are rushing into altcoins, is this seriously happening?
Liquidity drying up is like this; a slight breeze or movement and everything gets chaotic.
Leverage blew up so badly, serves them right.
Let's wait for tomorrow's speech; anything said now is pointless.
BTC has been grinding for so long, it either breaks down or surges up; there's no third way.
With so many contracts爆了, are retail investors okay...
ETF funds are rotating, but it feels like the rebound space is also limited this time.
End of the year like this, really pointless.
If one word from Powell can turn the tide, then I truly respect the Federal Reserve's power.
Honestly, we're in a numb phase now, all waiting for that person's speech.
Funds are flowing into sh*tcoins, I’m optimistic about Solana this round.
Leverage exploded, no wonder everything feels so dead.
If hawkish signals come, the price needs to retouch 88k, but I still believe above 93k.
With liquidity being drained this way, no wonder the crypto prices are like dead fish.
ETF is turning around, this signal seems pretty good.
Listening to Powell's speech tomorrow, either it skyrockets to 100k or gets cut in half, it's that simple.
This is how it will end the year; let’s wait for the spring recovery next year.
Contracts have dropped 44%, the leveraged dogs are truly devastated.
This wave is indeed “waiting for launch,” it’s too uncomfortable to stay here.
Entering now is like betting on Powell’s mood, I’d rather wait and see.
Funds are all in copying the shanzhai bottom, but I'm still waiting for BTC to break new highs... Heartbreaking
Liquidity is so thin, leveraged players have already run away, do we still dare to open positions?
When will this pause button be pressed? Always hesitating is really annoying
Stuck around 91,000 tightly, feeling uncomfortable
Shanzhai coins are rotating, and I'm still all-in on BTC... Did I play backwards?
Rather than waiting for Powell, it's better to watch whether derivatives are cold or hot, that's the real signal
The rate cut was already priced in a long time ago, the key is still to watch the policy direction in 2026
Bitcoin's current market feels like testing our patience
Repetitively grinding between 88 and 93, feels like being toyed with
Unclosed contracts have plummeted 44%, indicating that smart money is all fleeing