2025-12-18 03:10:47

#美国证券交易委员会推进数字资产监管框架创新 Speaking of Bitcoin's recent continuous softening, there are actually several underlying factors at play.

The most direct is the action on the Japanese side—the clear rise in expectations of a rate hike by the central bank, leading to a retreat in yen arbitrage trading. Historical experience tells us this usually slows down risk assets. Looking at the Federal Reserve, although they have started cutting rates, the future path remains uncertain. Upcoming non-farm payrolls and CPI data are about to be released, and market expectations for liquidity are rapidly cooling. The third pressure comes from on-chain activity—miners and some old funds are beginning to reduce their positions simultaneously, and ETF fund flows have also shown significant outflows.

These factors stacking together make it understandable that BTC has retraced to around 85k. The current focus is whether this 85k support can hold—if macro data isn't too bad, there might be a technical rebound opportunity; otherwise, the market will need more time to digest this wave of pressure.

$BTC $ETH $BNB

BTC1,91%

ETH1,55%

BNB1,55%

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MetaverseMigrant

· 2025-12-20 14:44

This round of interest rate hikes in Japan has really stalled the market, and arbitrage traders are fleeing too quickly. Miners are starting to sell off, which we have to be cautious about. Can 85k hold? I feel like it might need to dip further. No matter how much the SEC's framework is improved, it’s useless now. We have to wait for the non-farm payrolls and CPI data to come out. ETF fund outflows are really awkward; it feels like the market is bottoming out.

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BlockchainBard

· 2025-12-19 21:58

The Bank of Japan's recent move was indeed aggressive, directly scaring away arbitrage funds, even affecting BTC. I'm a bit worried about the miners reducing their positions; when veteran investors follow them to exit, it's usually not a good sign. The 85k level must be held, or else the price may continue to decline.

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AirDropMissed

· 2025-12-18 20:31

If we can't hold 85k, we're in trouble... Miners are all fleeing, this signal is a bit broken.

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StablecoinEnjoyer

· 2025-12-18 03:38

The Japanese rate hike is really a meat grinder; once the arbitrage wave recedes, it's over. Miners and big players are also fleeing, this is getting interesting. Must hold 85k, or else we'll really have to wait for this wave of macro data.

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CrossChainBreather

· 2025-12-18 03:38

The Bank of Japan's move is really clever, directly scaring away all the arbitrage traders. Miners and whales are reducing their positions simultaneously, this signal isn't very good.

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ZeroRushCaptain

· 2025-12-18 03:28

Oh no, it's the same old story again—Japan's rate hikes, the Fed's confusion, miners fleeing... Just hearing about it makes me expect a hit. If I can't hold 85k, I'll just give up directly; anyway, my name is already on the casualty list.

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