The market is currently in a phase of low liquidity, with leading institutions and major hedge funds in Europe and the US still absent from the market. The market has lost its core pricing and absorption power, and small fund flows are causing significant fluctuations in the trading surface. Bitcoin's trading volume has shrunk by over 30% compared to normal levels, and trading activity remains subdued. In this environment, both Bitcoin and Ethereum lack capital support for their rebounds, making it difficult to form effective trend breakthroughs, and the short-term outlook remains weak.

Capital flows are showing a clear divergence. Crypto ETF outflows continue, with Bitcoin spot ETF experiencing a net outflow of @E5@1.75 billion in a single day. Ethereum also saw $13.3 million in capital withdrawals. Institutions are cautious in the short term, suppressing the rebound potential of these assets. However, long-term bullish positions remain, with MicroStrategy increasing its holdings of Bitcoin to solidify its bottom support. Buy orders around 87,000 are strengthening, and low-level accumulation funds are forming effective support.

The market has decoupled from traditional assets. US stocks and precious metals are strengthening, while Bitcoin has fallen 6.25% year-to-date. Its safe-haven attributes have not been realized, and funds are flowing into traditional sectors. Additionally, regulatory optimism has cooled, and stricter DeFi regulations have triggered risk-avoidance sentiment, further suppressing market bullish momentum.

Bitcoin daily chart faces resistance at the 90,000 level, with a bearish pattern unchanged. Short-term support is around 87,000, with a strong support zone at 86,000, and resistance at 88,800-90,000. Ethereum daily chart is under downward trend pressure, with rebounds only serving as corrections. The price oscillates between 2900 and 2960, with resistance at 3000 and strong support at 2800-2850.

Caution is advised regarding the risk of correction exceeding expectations. As the New Year holiday approaches, market trading volume is likely to remain subdued. In the short term, it is recommended to focus on recent volatility ranges and wait for clear breakout signals before making strategic moves. $BTC #ETH走势分析