U.S. stocks closed on Monday, with the Dow initially down 0.5%, the S&P 500 down 0.35%, and the Nasdaq down 0.5%. Tesla(TSLA.O) fell 3.2%, Micron Technology(MU.O) rose 3.4%, and NVIDIA(NVDA.O) declined 1%. According to CME "Federal Reserve Watch": the probability of the Federal Reserve cutting interest rates by 25 basis points in January next year is 16.1%, and the probability of holding rates steady is 83.9%. The probability of a total cut of 25 basis points by March next year is 45.4%, with a 47.7% chance of no change, and a 6.9% chance of a total cut of 50 basis points. The overall crypto market trend is oscillating within a previous range, testing resistance levels. In the morning, there was a surge to test upper resistance, but the market faced significant pressure and retreated, then continued downward, forming a clear rollercoaster oscillation pattern.

Bitcoin experienced a dramatic "rollercoaster" movement yesterday. In the morning, the price touched a low of around $87,400 before starting to rise. Influenced by the rapid plunge in precious metals, the market quickly moved upward, with the price reaching as high as around $90,342. However, due to insufficient volume at high levels and exhaustion of upward momentum, the market began to decline. By yesterday afternoon, the lowest point retraced to around $86,750, nearly $4,000 below the intraday high. Later, from the evening to early morning today, Bitcoin entered a consolidation phase within a small structure, currently maintaining narrow fluctuations within a small range. Neither the high nor the low of the range has been effectively broken, with both bulls and bears continuing to tug within the range. On the four-hour chart, the upward pace has slowed, and the market is also in a sideways consolidation pattern. From a short-term trend perspective, it remains uncertain whether Bitcoin will make a secondary surge to test previous highs or deepen its correction. The market's clear signal is still awaited, with attention to volume changes at key levels, to avoid the risks of chasing highs or selling lows in volatile conditions. Range trading or waiting for a trend to clarify before following the trend is recommended.

Ethereum's movement shows some synchronization with Bitcoin but with relatively milder volatility. Yesterday morning, Ethereum started rising from a low of around $2,920, reaching a high of about $3,056 before encountering resistance. In the afternoon, bearish forces began to increase, leading to a rapid retracement, with the price dipping to around $2,907, which became the intraday low. Afterward, Ethereum initiated a slight rebound. From the evening to now, Ethereum has been oscillating around $2,930 in a small rhythm. Within this short cycle, there has been no significant rebound momentum after retracement, indicating that the support below has not yet been confirmed. In the short term, there is still room for further correction. Currently, the market is in a correction phase with both bulls and bears participating. From a trend perspective, it is more advisable to follow the trend and wait for a retracement to establish a long position. The overall market has not yet fully broken out of the previous upward trend framework. If volume stabilizes during the correction, it could be a more prudent entry point for bulls.