[Analysis] "Bitcoin shows 'unstable stability' ahead of FOMC… short-term rebound is not a buy signal"

Bitcoin (BTC) has been bullish in the short term earlier this week. However, market sentiment remains cautious ahead of the Federal Open Market Committee (FOMC) meeting.

On the 9th (Korea time), Matrixport said on X (formerly Twitter), "Even though the December 10 FOMC meeting is imminent, overall market uncertainty has not been resolved," and analyzed, "Bitcoin's price has shown a temporary stabilization, but it is difficult to determine that this is a new upward phase."

Matrixport explained that the market remains cautious. The report said, "The current options market reflects roughly a 5% chance of a decline, and funds are maintaining hedge strategies in preparation for potential adjustments," adding, "Since year-end is typically a time for deleveraging and position reduction, a short-term rebound is more likely to be interpreted as an opportunity to reduce positions than as a buy signal."

Seasonal factors also weigh toward weakness. The report pointed out, "Around Christmas, liquidity is low, making it difficult for market strength to continue." The current short-term benchmark for bullish/bearish judgment was presented at $91,500.