#ETH走势分析 Market Watch｜Early December Market Overview

Recently, large on-chain holders have been very active. Strategy has accumulated over 10,000 BTC in the first week of December. BMNR’s total assets have exceeded $13 billion, with an additional 1.38 million ETH added in a single week, bringing its current holdings to 3.86 million ETH. These data points reveal institutions’ outlook on the market.

**Bitcoin Technical Analysis**

BTC has broken out of its four-hour bottom range, with the upper Bollinger Band around 92,000—a challenging level. On the daily chart, it’s still consolidating below the lifeline. Although it broke above the mid-band, it hasn’t fully reversed, and the overall trend remains bearish.

Today’s reference levels:
- Support below: around 87,300, 88,000, 89,100
- Resistance above: around 91,800, 92,500

**Ethereum Reference Levels**

- Support below: around 2,895, 2,968, 3,020
- Resistance above: around 3,160, 3,220

**Market Sentiment Interpretation**

The Fed’s rate cut window is approaching, but the market has turned cautious. This is often a time for “buy the rumor, sell the news”—while the bullish catalyst isn’t confirmed, the rebound is limited; once it’s confirmed, there’s a high chance of a pullback. Along with average liquidity, a strong rally is unlikely in the short term, with more consolidation and digestion expected.