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Hacker identity fully exposed! Suji Yan warns: If funds are not returned within 72 hours, international law enforcement 'net' will be immediately activated.

Core of the incident: The toughest 'black eats black' in crypto history.
International law enforcement coalition: Mask Network founder Suji Yan issued an on-chain ultimatum to the hacker, stating that the FBI, Hong Kong police, Interpol, and private security have identified him, with a complete chain of evidence, threatening 'global manhunt'; 72-hour life-and-death line: Demanding the hacker return all stolen funds by March 5, or law enforcement actions will escalate, including: global exchanges blocking involved addresses; criminal prosecution of the hacker and associated personnel; public disclosure of their true identity and criminal evidence; if cooperation in repayment occurs, promising 'generous rewards' and destruction of tracking data, case termination; if repayment is refused, 'unlimited legal liability' will be pursued.

The current macroeconomic landscape still maintains expectations that the Federal Reserve will implement two rate cuts next year, providing potential support for risk assets. Meanwhile, the industry has seen positive regulatory progress, as the U.S. SEC has concluded its four-year investigation into the DeFi protocol Aave, which helps alleviate some compliance uncertainties. However, the economic fundamentals show resilience, with the U.S. November non-farm payroll data adding 64,000 jobs, exceeding expectations, which may complicate the policy path. In terms of institutional dynamics, investment strategies are becoming diversified, with China’s property investment plan incorporating BNB into its strategic reserve assets, indicating a long-term optimistic stance.

Kevin Hassett, the director of the White House National Economic Council, recently stated that even if he is nominated as the chairman of the Federal Reserve in the future, he will appropriately consider President Trump's policy views during the decision-making process. However, the Federal Reserve's core function, interest rate decisions, will strictly maintain its statutory independence and will not be subject to executive intervention.

From a technical structure perspective, as long as the price can maintain above the key defense line of 86,000, it is considered normal consolidation, and there is still an expectation of a rebound in the future. If the price falls below this support and cannot quickly recover, the short-term structure will weaken, and one must be wary of the risk of further exploring new lows. Currently, the small-scale trend leans towards a pullback route, and as long as the 86,000 defense line is not broken, a rebound is still expected this week. On the upside, it is important to pay attention to the small-scale resistance near 90,000; an effective breakthrough of this position will be regarded as a confirmation signal of a short-term stop and a shift to strength.

The current cryptocurrency market is overall showing a weak and volatile pattern. The main pressure for this round of adjustment comes from the uncertainty of external macro policies, rather than a deterioration in the industry structure itself. On-chain data indicates that the market's fundamentals still possess certain resilience, which provides implicit support below. Therefore, the market is in a tug-of-war between external macro emotional suppression and internal on-chain fundamental support. In this environment, strategies should be formulated based on one's own risk preference and investment cycle.

The focus for the day should be on the contest for the resistance level of 9w4. If the price can effectively break through this level, the rebound trend is expected to continue, with the next target pointing towards the price level near 9w8 that determines the strength of the large-scale structure. Conversely, if a breakthrough cannot be formed in the short term, the market will likely enter a period of volatile consolidation. The primary support level below is at 8w9; if this support is lost, further attention should be paid to the support strength of the key defensive line at 8w6.

In December, the Federal Reserve's decision was implemented as expected, lowering interest rates by 25 basis points, bringing the federal funds rate target range down to 3.50%-3.75%. More significantly, Chairman Powell simultaneously announced the initiation of a monthly asset purchase program to buy $45 billion in short-term bonds. The essence of this move is to restart quantitative easing, directly injecting base liquidity into the financial system. In terms of market impact, such direct liquidity injections often send stronger signals and have a more direct and powerful effect on asset prices than simple interest rate cuts.

The macro interest rate cuts have temporarily played out, returning to the market where the price of Bitcoin has failed to break through effectively after rising, still constrained by the strong pressure of the upper Bollinger Band on the daily chart. Attention needs to be paid to two short-term support levels near 9w1-9w, where 9w serves as a key psychological and technical support. If the price strongly breaks below this level, the current rebound structure may be declared over. The short-term resistance above is located around 9w35-9w45.

The overnight market sentiment was significantly boosted by the comments of potential Federal Reserve Chair candidate Harker. He released an unexpectedly dovish signal that 'the rate cut could exceed 25 basis points,' a viewpoint that has reportedly received Trump's endorsement. Meanwhile, Bank of America revealed the Fed's inclination to potentially expand its balance sheet. As a result of this series of news, institutional investors have made large-scale entries to build positions, driving a broad rise in the cryptocurrency market.
The four-hour level of the pancake has completed an upward wedge breakthrough. The short-term moving average system shows a bullish arrangement and forms a golden cross, indicating a strengthening technical structure. The price is under pressure as it rebounds to the daily MA60 moving average, and is currently entering a normal technical correction phase. Attention should be paid to the support strength of the smaller level corrections, with the primary defense line located at 9w18. As long as the hourly chart can hold this position, the short-term bullish structure will remain intact. If the price effectively breaks below this support, it would mean a short-term weakening and could shift to a right-side bearish mindset, with lower target support looking at 9w and 8w9.

This week's core macro event: The Federal Reserve's December interest rate decision. The announcement time is 03:00 Beijing time on December 11, with the highest level of importance. The market generally expects a rate cut of 25 basis points to 3.75%, with the probability of this rate cut reaching as high as 89.4% according to the CME FedWatch tool.
Before Powell's handover, the market consensus pinned long-term inflation at 3%. This is awkward; on one hand, over 400,000 bitcoins have flowed out in the past year, which should theoretically cause a price increase, but on the other hand, institutions hoping for the Federal Reserve to significantly ease and cut rates by more than 25 basis points found their wishes unfulfilled, leading to money starting to flow to Japan. The result is that the cryptocurrency market not only didn't receive fresh liquidity, but instead faced a withdrawal of funds, compounded by panic selling, creating a peculiar situation of deflation without price increases.

On the eve of the Federal Reserve's decision, market volatility has significantly intensified. The overnight market showed a typical two-way washout pattern, first breaking key support to clear long stop losses, and then quickly rising to force shorts out of the market. This reflects the intense game between bulls and bears and the repricing of risks before the core macro event of interest rate cuts takes place. It should be noted that the potential interest rate hike direction of the Bank of Japan may complicate capital flows, creating a policy game. Before the results of Thursday's FOMC meeting are clear, market logic may be chaotic, and it is advisable to remain cautious and avoid chasing highs and lows during extreme fluctuations.

The U.S. Treasury debt has exceeded $30 trillion, doubling since 2018; the Federal Reserve is expected to lower the federal funds rate to a range of 3.25%-3.5% by 2026; former White House economic advisor Hassett predicts that the Federal Reserve may cut rates by about 25 basis points at its next meeting. The acting chair of the CFTC stated that spot cryptocurrencies can now be traded on exchanges registered with the CFTC. Additionally, there has been a phenomenon of long positions continuously increasing in the market, combined with the positive expectations brought by non-farm employment data, which may further boost investor sentiment. Today, it is important to pay attention to the potential impact of the above factors on market liquidity, asset prices, and overall risk appetite.

Recently, although the market has been continuously stimulated by positive news, the willingness of institutional capital to participate is significantly weaker than the level of the second quarter of last year, indicating that the current market is more driven by sentiment rather than incremental capital. From the market structure, there is a clear characteristic of altcoins leading, with mainstream following. From a technical perspective, the price trajectory is extremely uneven, with severe discrepancies and fluctuations at every key resistance level, clearly indicating that the bullish momentum is not resolute and market consensus is weak.
The upward trend of Bitcoin continues, and we maintain the core target of the major level structure at the 98,000 strong-weak dividing line unchanged. We need to closely monitor the support area of 92,000 to 93,000 during the day. If the price can maintain above this area, the short-term will remain strong; if it unexpectedly breaks down, it may retest the lower support to accumulate momentum before moving up again. The current small-level rebound cycle has not yet ended, and the final market focus will converge on whether the price can effectively break through 98,000 to determine the continuity of the upward trend.

Stimulated by the major positive policy news released by the special committee last night, the market experienced a sudden surge. This move effectively alleviated short-term panic selling on an emotional level and injected strong positive expectations for the long-term market outlook in 2026.
The current round of increases is characterized as a news-driven technical rebound, the sustainability of which is in doubt. A high sell-low buy range strategy can be adopted in operations, allowing for the opportunity to buy on dips during corrections, while also being cautious of short selling possibilities near key resistance levels. Future increases must be supported by sustained trading volume; otherwise, the rebound will be difficult to maintain. All trades must strictly set stop losses and ensure risk control.

The US capital market is about to welcome a highly anticipated policy announcement. SEC Chairman Paul Atkins is scheduled to ring the bell at the New York Stock Exchange on December 2 and deliver an important speech. This speech focuses on revitalizing the US capital market and coincides with a critical historical juncture. The market expects that Chairman Atkins will not only outline the SEC's regulatory and development vision for the next century but may also reveal current core policy trends that are being brewed or implemented. This move is seen as an important window for observing the future direction of US financial regulation.

The pancake completed a pullback at the key bullish defense line during the night and closed up with a long lower shadow along with increased volume, forming a positive initial signal for a stop in the decline. The smaller time frame needs to hold the support at 80,00038; if a strong bullish candle emerges above this level, it can be confirmed as an effective oversold rebound. The rebound needs to pay attention to the resistance zone of 80,0009-90,000; an effective breakthrough can confirm the stop in decline and initiate a stronger trend. If the rebound fails to break through this resistance, or if the price drops below the support of 80,00038 again, it may trigger a new round of decline and possibly form a secondary bottoming structure on the daily level.

This morning, the market experienced a significant downturn, and the liquidation data surged. According to the latest statistics, the total liquidation amount across the network in the past four hours reached $435 million, with long positions liquidating $423 million, becoming the absolute dominant force in liquidation. Extending the time dimension to 24 hours, over 180,000 investors globally have encountered liquidation, with the total liquidation scale further expanding to $539 million.

The pancake intra-day demand focuses on the 88,000 support level. If the four-hour K-line can continue to operate above this line, the current rebound structure will be maintained. The price must effectively break through the 93,000 key resistance in the upward direction to confirm a strengthening trend and open up new upward space; otherwise, the market will still face fluctuations. If the intra-day price falls below the 88,000 support and rebounds weakly, the beginning of this week may further explore the core defense line of the bulls in the 84,500-85,000 area.

Economist Peter Schiff, a representative figure of the gold bulls, recently pointed out that the silver price has surpassed $56 per ounce, setting a new historical high, while the gold price has also reached a high of $4220. Mining stocks have seen a significant increase. He further commented that while the traditional precious metals market is performing strongly, the price of Bitcoin has seen a decline. He believes this reflects that Wall Street funds are still chasing cryptocurrencies, while the real bull market is actually happening in the precious metals market. However, the true trend is indeed in this traditional asset sector. So what will happen in the crypto market? We shall wait and see!

Yesterday, the market was affected by the U.S. holiday, resulting in thin trading and relatively low liquidity, but the current small-level rebound structure has not yet ended. Capital flow shows that the market capitalization of stablecoins continues to decline, while the market capitalization of altcoins is strengthening simultaneously, indicating a significant recovery in market risk appetite.
The key trigger point for the market is that Bitcoin needs to effectively break through the resistance at 92,000-93,000, while the proportion of altcoins needs to confirm a breakthrough of its trendline pressure. If both resonate, the altcoin sector is expected to welcome a considerable rebound in market performance. Strategically, it is recommended to continue holding spot positions and closely monitor the breakthrough of the aforementioned key resistance levels.

The U.S. Treasury has exercised its authority to lock in the consumer price index (CPI) reference value for October 2025 based on the emergency provisions of inflation-protected securities, announcing that this index value is 325.604. This value will be used as the final calculation benchmark for all payment obligations based on the October 2025 CPI. The Treasury has made it clear that even if the U.S. Bureau of Labor Statistics publishes the actual CPI data for that month in the future, this pre-set index value will remain unchanged and will not be replaced.

The large pancake's intraday demand needs to focus on the support range of 86,000 to 87,000. If the price can maintain above this range, the short-term strong trend will continue. The core observation point for the future market is the resistance zone of 92,000 to 93,000. If an effective breakthrough can be achieved, it will confirm a minor trend reversal and further test the key support and resistance level around 98,000 on the daily chart.

Previously, the market's widespread concerns about the Federal Reserve remaining inactive in December have dissipated, turning to highly price in another interest rate cut next month. The direct driving force behind this shift is the delayed release of weak employment data for September, as well as New York Fed President Williams' clear dovish statement about the 'recent space for rate cuts.' The market reacted extremely quickly, with the open interest in futures contracts linked to the Fed's rates surging. Currently, the market pricing shows that the probability of a 25 basis point rate cut in December has skyrocketed from about 30% a few days ago to around 80%. As Brandywine Global analysts put it: 'There are serious divisions within the Fed, but it seems the dovish side has overwhelmed the hawks.' This shift has also paved the way for the continued rise of U.S. Treasuries.

The current market has significant expectations for the Federal Reserve's interest rate path in December. Previously, due to data showing a slowdown in inflation and a weak labor market, traders generally viewed a rate cut in December as the baseline scenario. However, recent concentrated hawkish statements from Federal Reserve officials have cast a shadow over this optimistic expectation. Although some officials have released moderate signals, the game regarding the policy direction at the end of the year is far from over. Michael Hartnett, Chief Strategist at Bank of America, pointed out in his authoritative report that the tightening of liquidity has impacted multiple asset classes, which may force the Federal Reserve to continue cutting rates. Against this backdrop, the cryptocurrency market, which is highly sensitive to policy changes, will serve as the first signal of a shift in the central bank's direction.

Although the closure of the US stock market over the weekend limited capital inflows, Bitcoin rebounded significantly under the influence of the Federal Reserve's dovish signals. At last Thursday's FOMC meeting, some committee members shifted to a dovish stance, warming market expectations for interest rate cuts, which served as the direct catalyst for this rebound. Essentially, this rise is a corrective rebound from a panic sell-off at the critical 80k level, followed by institutional buying at lower prices, resulting in a high turnover rate and a second round of oversold technical indicators, which can be seen as a short-term bottom signal. However, this does not indicate a trend reversal. The long-term bearish pattern has yet to be broken, and the current rebound is more likely to be a cleanup of short liquidity in preparation for subsequent downward movements and accumulation of momentum.

Non-farm data exploded, giving the market a heavy blow! Strong employment data has almost shattered the Fed's hopes for a rate cut in December. As a result, U.S. stocks opened high and then plunged, breaking new lows, with the cryptocurrency market following suit, as Bitcoin fell in tandem. Data shows that in the past 24 hours, the entire network saw liquidations of $823 million, including $689 million in long liquidations and $134 million in short liquidations. BTC liquidations were $408 million, and ETH liquidations were $173 million.

The daily structure of Bitcoin has confirmed a break below the 88,000 level. If the price can strongly pull back and stabilize above this level today, it will be considered an effective stop of the decline; otherwise, the market will begin a second dip, targeting the range of 80,000 to 78,000 to complete this round of consolidation. From a short-term structural perspective, it is crucial to pay attention to the resistance at 90,000 today. If it can effectively break through, it will confirm a stop of the decline and further test the pressure zone around 93,500 to 94,000. Conversely, if the rebound momentum is weak, the price may dip again to test the second support level on the daily chart.