#美联储重启降息步伐 December 9 BTC, ETH Market Node Analysis

**Inflation Data Locked In, Bearish Pattern Continues**

The latest inflation expectations have stabilized at the key 3% mark, a figure that is exerting real pressure on current market liquidity. Looking back over the past year, BTC has seen a cumulative outflow of 403,200 coins. From the supply side, this should have been a bullish signal supporting prices—total supply decreases, scarcity increases. But reality has turned out to be the opposite: the market is shrouded in panic, large-scale sell-offs followed, and the anticipated rally was abruptly halted.

What’s even more pressing is the institutional side of the equation. The funds that previously bet on a rate cut of over 25 basis points now see the 3% inflation ceiling, and the dream of easing is basically shattered. Instead, they are turning their attention to the Japanese market, seeking a looser environment. This shift has directly intensified the current liquidity crunch.

**BTC: Technicals Clearly Turning Weaker**

The price is facing resistance and pulling back around 9,200, which is a clear signal. On the four-hour candlestick chart, support at the middle band has already been breached, trading volume is shrinking, and the chart is showing a typical bearish engulfing pattern. The KDJ indicator continues to diverge downward, entering an oversold extreme zone, indicating that downward momentum still has room to go.

Short-term trading strategies:
- Watch the 9,050 line on rebounds. If the rebound fails to hold here, the hourly chart will remain weak.
- Bulls can try light positions around the 8,880 zone, waiting for reversal opportunities.
- Bearish strategies focus on shorting between 9,030-9,070, with the first target at 8,950-8,880. If this area breaks, watch the 8,760 level below.

**ETH: Risks Are Accumulating**

For ETH, short positions are recommended in the 3,118-3,137 range, with an initial target of 3,080-3,033. If technical levels continue to break down, look further down to 2,978.

In a contracting liquidity environment, risk assets are under sustained pressure, so operations during this period require more cautious rhythm management.