Analyst: US$95,000 is an important life and death line for Bitcoin. What potential catalysts for BTC this month are worthy of attention?

Here is the English translation of the text, with the specified terms retained and not translated: Bitcoin experienced a major plunge this (10th) morning, and other Altcoins fluctuated even more violently, causing over 560,000 people to be liquidated for $1.7 billion in the past 24 hours, setting the second-worst record in history! As of the time of writing, the currency price has rebounded to $96,268, with a drop of 3.35% in the past 24 hours.

10x Research: Bitcoin May Enter the Death Zone

In fact, just recently, in an analysis report released by 10x Research on the 8th, it pointed out that after experiencing a month of celebration following Trump's victory, Bitcoin may currently be on the verge of entering the death zone, meaning that the upward momentum of BTC is weakening, and the risk of correction is gradually increasing. First, 10x Research pointed out that the trading volume of cryptocurrencies in the market has already declined significantly, for example, in South Korea, where cryptocurrency speculation is popular, the trading volume has dropped from a peak of $25 billion to the current $6.7 billion (possibly affected by martial law); on the world's largest cryptocurrency exchange Binance, the spot cryptocurrency trading volume has also dropped from $60 billion to $24 billion: > This indicates that the overall upward momentum has been lost, and given this trend, now may also be a wise time to reduce leverage, adjust positions, and focus on core assets.

In addition, 10x Research also pointed out that when the Bitcoin MVRV indicator reaches 4, the market usually performs as a large-scale profit-taking situation, also implying that the bull market has reached its peak. Currently, the MVRV indicator is 2.7, also known as the mid-cycle peak of the bull market, at this stage, a large number of investors may also be taking profits.

Finally, 10x Research pointed out that the current key support level for Bitcoin is at $95,000, and if it can break through $100,000 again, it may be able to further break through, but if it falls below the $95,000 mark, investors may need to be wary of further downside risks for Bitcoin.

Bitcoin's Upward Momentum Needs Further Catalysts

With the recent correction in Bitcoin, FalconX research chief David Lawant said that for Bitcoin to break through $100,000 again and remain stable above that level, it will still need further catalysts. As for the catalysts that could drive Bitcoin's further upward momentum, the author has summarized the current market news and views, which may include: - On December 10th, Microsoft will review a proposal to invest in Bitcoin; - Starting from December 15th, the Financial Accounting Standards Board (FASB) will introduce new regulations allowing cryptocurrencies to be listed on company balance sheets at fair market value, which will encourage finance departments to include Bitcoin on their balance sheets; - The US Federal Reserve will hold an FOMC interest rate meeting on December 18th, which will decide whether to continue cutting interest rates, and currently the probability of a 1-point rate cut is relatively high, meaning that market liquidity may remain relatively abundant in the future; - The Bank of Japan will announce its benchmark interest rate on December 19th, and if it chooses not to raise rates, it may reduce market concerns about the risk of unwinding the yen carry trade; - Continuous net inflows of funds into Bitcoin spot ETFs.