TechFlow reports that on December 4, Bitget Research noted from a macro perspective, the earlier-than-expected Fed rate cut expectations have driven up commodity prices, with gold breaking its historical high and BTC rebounding over 60% for more than a month. As the U.S. economy may be entering a recession cycle, according to Bank of America's Global Fund Manager Survey, fund managers' consensus predicting interest rate cuts in 2024 reached 80%, marking the highest level of agreement ever recorded in the survey. Alongside the consecutive decline in the U.S. Dollar Index, Bitcoin's price has continuously broken new highs this year.
On the secondary market front, total trading volume in the crypto market has risen for three consecutive trading days, with the overall crypto market cap climbing to $1.5 trillion. In the past 24 hours, total liquidations across the market approached $200 million, including $155 million in short liquidations. With bearish pressure weakening, a rapid upward correction has emerged. The current coordinated rise in trading volume and price appears relatively healthy, suggesting the bullish trend could continue. However, given significant market volatility, investors should remain mindful of market risks.
