According to the latest market information as of tonight (December 4) Beijing time, Bitcoin (BTC) and Ethereum (ETH) are currently near key price levels after a strong rebound, with short-term trends influenced by macro expectations and technical resonance.

Bitcoin (BTC)

· Current price and status: Approximately $93,000, at a critical short-term watershed. Daily fluctuations range between $92,612 and $94,002.

· Key support level: $90,500 (near-term defense zone)

· Core observation point: Can it hold above $93,000?

· Recent capital flow: The spot ETF has recently turned into a net inflow for four consecutive days.

Ethereum (ETH)

· Current price level and status: About $3,100-$3,200, breaking through key psychological and technical resistance zones. Significant increase in the past 24 hours.

· Key resistance levels: $3,100 - $3,200 area; dense resistance above at $3,363 - $3,566 (moving average convergence area).

· Key support levels: $2,850 - $2,900 area.

· Recent capital flow: There has been a net outflow from spot ETFs recently, but the futures market has seen a huge short liquidation in the past 24 hours.

📈 Core factors driving the current market

This rise is not driven by a single factor, but rather the result of multiple macro and internal market forces working together.

1. Macroeconomic expectations shift: The market's expectations for the Fed to cut interest rates in December have sharply risen, with the probability now around 90%. This has enhanced market liquidity, which typically benefits risk assets like Bitcoin.

2. Internal market capital rotation: Recently, there have been signs of capital rotating from Bitcoin to assets like Ethereum. For example, there has been outflow from Bitcoin spot ETFs, while Ethereum spot ETFs recorded significant inflows.

3. Technical key breakout: Ethereum successfully implemented the 'Fusaka' upgrade, significantly improving network performance, which has become an important catalyst for its price breaking through $3,000.

🔮 Evening market highlights and potential directions

综合各方观点，晚间的市场动向可能围绕以下几个要点展开：

· Bitcoin's defense and confirmation: $93,000 is the territory that bulls need to defend. If it can hold, it may open space for further upward movement; if lost, attention will need to be paid to the support strength near $90,500. Although market sentiment has recovered from 'extreme fear', it still remains in the 'fear' zone, indicating that investor sentiment is cautious.

· Ethereum's resistance test: Ethereum is currently facing strong resistance testing between $3,100 and $3,200. If it can break through effectively with volume (such as a stable daily closing price), it may open a path towards $3,400 or even higher (like $3,800). Conversely, if the breakout fails, it may fall back to seek support in the $2,850-$2,900 region.

· Risks to be wary of:

· Macroeconomic data: The U.S. will release the November non-farm employment data tonight. If the data does not align with the market expectation of a 'cooling labor market', it may severely disrupt interest rate cut expectations and trigger market fluctuations.

· Market volatility: The cryptocurrency market is highly volatile. In the past 24 hours, the total liquidation across the market reached $430 million, with Ethereum's short liquidation amount ($103 million) far exceeding that of long positions, indicating that market sentiment can easily trigger a sell-off.

💎 Summary

Overall, the key for the evening market is whether Bitcoin can hold $93,000, and whether Ethereum can successfully break through the $3,100-$3,200 resistance band. The macro-level expectations for interest rate cuts provide 'fuel' for the market's rise, but the actual direction choice needs to be confirmed by price performance at key technical levels.

This article represents personal views only, for reference only, and should not be regarded as a basis for actual operations. Market changes are unpredictable, and profits and losses are self-responsible. For the latest trading strategies, follow the public account: Gu Yue KOL # Bitcoin