TechFlow news, December 8 — Matrixport released a chart today stating, "As the FOMC meeting on December 10 approaches, market sentiment is highly focused on related policy signals. Although Bitcoin prices have stabilized somewhat, it is still premature to view this as the start of a new upward trend.
Option pricing continues to imply about 5% downside risk, with funds still hedging against pullback risks. Amid the general year-end trend of deleveraging and reducing positions, any short-term rebound is being used more as an opportunity to reduce holdings rather than as a signal for new buying.
From a seasonal perspective, market liquidity tends to be tight around Christmas, which often suppresses the sustainability of rallies. The current key level separating bulls and bears lies roughly at the $91,500 mark. In terms of probability, the base case remains one of continued volatility compression, with limited likelihood of a strong breakout immediately following the FOMC meeting."
