Summary
- Bitcoin (BTC) is hovering around $89,000, reportedly having given back most of the gains immediately after the Federal Reserve's rate cut.
- With market liquidity decreasing, leverage and volatility appeared limited, and investors are focusing on optimizing financial structures rather than directional bets.
- Even within the range-bound movement, quiet accumulation by Digital Asset Treasury (DAT) firms was observed.
Bitcoin (BTC) is trading around $89,000, having given up most of the gains formed after last week's Federal Reserve rate cut.
On the 15th (local time), according to CoinDesk, FlowDesk said in a recent note, "Demand was quickly exhausted immediately after the 25bp rate cut, and market liquidity is noticeably decreasing as year-end approaches." Accordingly, Bitcoin and Ethereum (ETH) showed pullbacks from intraday highs, and altcoins overall continue to remain under pressure.
However, despite the cautious market sentiment, internal positioning appeared relatively stable. FlowDesk explained, "Leverage remains at low levels and volatility is limited," and "market participants are focusing on optimizing financial structures that consider short-term profit taking and long-term funding simultaneously rather than directional bets."
On-chain data also captured a quiet accumulation flow. According to Glassnode, as Bitcoin remains range-bound, digital asset treasury (DAT) firms have resumed buying Bitcoin. Previously, DATs' halt in purchasing had been cited as one of the main factors behind Bitcoin's stagnation throughout the fall.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
