Federal Reserve officials recently stated that if Trump implements high tariffs after taking office, leading to a spike in the unemployment rate, they may support interest rate cuts. This statement has reignited expectations for rate cuts, with both U.S. stocks and bonds strengthening, and the Nasdaq rising nearly 3%. Meanwhile, safe-haven assets like gold and oil have also rebounded. BTC has maintained volatility at high levels, with an overall upward trend in the market. The DEX project BSW on the BSC chain skyrocketed over 100% in a short time, then pulled back, becoming the leading coin of the day.

However, there are still unsettling factors in the market. Liquidation data shows that the current price of BTC is 93,587 USDT, and if it falls to 92,587, long position liquidations will exceed 140 million USD; if it rises to 94,587, short position liquidation amounts will exceed 430 million USD, far exceeding long positions. The risk of shorts is concentrated, reminding investors to manage leverage wisely and be cautious of liquidation waves caused by sudden volatility.

In addition, the religious Memecoin LUCE and MEMEFI under the TON ecosystem have shown extremely unstable trends, with the latter once losing half its value, leading the decline in the market. Capital is still quickly circulating between localized speculation and hot spots, and a unified trend has yet to form. In the short term, attention should be paid to the market's further expectations regarding Federal Reserve policies, which will determine the direction of the overall market trend.

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