BlockBeats News, December 2nd. In November, the US ISM Manufacturing PMI was reported at 48.2, marking the ninth consecutive month in the contraction zone. While the market had hoped for a recovery, it failed to materialize, further solidifying rate cut expectations. At the same time, the market once again worried about recession risks, as the uncertainty of the economic outlook intensified. Meanwhile, Trump is accelerating internal arrangements, and the “shadow effect” of the new Fed chair is manifesting earlier. The market is concerned that the future monetary policy guidance will be in a state of dual-core signal confusion in the next six months, potentially leading to sharp fluctuations in the dollar and rate expectations.
Amidst macro and policy noise, the crypto market saw another wave of volatility last night. BTC rebounded from its low point to near $87,000 overnight, but the overall structure is still in a weak repair phase. In the short term, attention is focused on whether it can break through the $88,000 liquidation pressure. If it fails to climb above smoothly, the price may retest the support at $85,000. Liquidity distribution shows that the current hotspots are focused on short liquidations at $88,000, as well as long liquidations at $85,500 and $83,800, the three main liquidity nodes. Short-term volatility risks remain high. If policy uncertainty continues to rise, BTC may continue its range-bound oscillation driven by liquidations. $88,000 is a key short-term breakthrough level, while $85,000 and $83,800 below serve as two defensive supports.
Bitunix Analyst View: The US monetary policy is entering an unprecedented transition period, with the “shadow chair” and the uncertainty of the inflation path, putting the market under multiple repricing pressures in the coming weeks. The short-term direction of BTC still depends on the interaction between liquidation density and macro sentiment. It is recommended to interpret based on fund flows, volatility rebounds, and policy signal consistency to capture subsequent structural breakthroughs.
