Viewpoint: The market is awaiting the Fed's rate cut decision and Powell's guidance.

Bitcoin hovered around $90,000, with the crypto market entering a low-confidence positioning mode ahead of the Federal Reserve's final policy decision of the year. Analysts at Nansen and BRN both stated that the rate cut had already been priced in by the market, and Chairman Jerome Powell's forward guidance tomorrow was more important than the rate cut itself. According to The Block's price page, BTC has recently been trading in a narrow range between $88,000 and $93,000. ETH remained around $3,100, BNB fell to $886, and Solana traded around $132. Affected by continued uncertainty, the total market capitalization of cryptocurrencies slipped to approximately $3.1 trillion. ETF flows indicate that funds are rotating rather than completely capitulating. Data compiled by The Block shows that Bitcoin ETFs saw a net outflow of $60 million on Monday, while ETH, SOL, and XRP products saw net inflows of $35 million, $1 million, and $38 million, respectively. Timothy Misir, Head of Research at BRN, stated that this indicates selective allocation rather than widespread risk aversion. The Federal Reserve's expectations are driving a clear divergence in digital assets, with altcoins still lagging behind Bitcoin. QCP Capital notes that the sharp volatility over the weekend reflects thinning liquidity as the year draws to a close. Despite the volatility, liquidation volumes are below typical levels seen earlier this year.