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Author: 0xBrooker
The Federal Reserve's rate cuts and liquidity release boosted BTC's price bottom this week; AI tech stocks' earnings falling short of expectations continued to squeeze high-beta asset valuations, suppressing BTC's upward potential. Ultimately, after testing last week's high, BTC continued to maintain a mid-term "bottoming" trend.
ETH, which experienced a larger decline earlier, also showed a stronger rebound, but ultimately fell back with the overall market trend.
Under the influence of rate cuts and slightly improved short-term liquidity, both attempted to break through the descending trendline this week, but both failed and retreated back within the descending trendline.
Overall, BTC moved in tandem with the Nasdaq, waiting for the release of next week's November CPI and non-farm employment data to provide guidance for a market lacking trading points, while also facing the impact of Japan's interest rate hike next week.
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Experienced roller-coaster swings and caused heavy damage