Matrixport: Bitcoin stabilizes in the short term, market sentiment remains cautious before the meeting

Matrixport pointed out that as the FOMC meeting approaches, market sentiment remains highly attentive. Although Bitcoin prices have temporarily stabilized, it is difficult to view this as the starting point for a new upward trend. Current option pricing still implies about a 5% downside risk, with funds continuously hedging against potential pullback risks.

At the end of the year, the market is generally in a phase of deleveraging and reducing positions, with short-term rebounds being seen more as opportunities to reduce positions rather than new buying signals. From a seasonal perspective, market liquidity is usually tight around Christmas, which is not conducive to a sustained rally. Currently, the key level for bulls and bears is roughly at $91,500, and the overall probability scenario still suggests that volatility will continue to converge, with relatively limited chances of a strong breakout immediately following the FOMC meeting.