#加密生态动态追踪 The performance of Bitcoin today is mainly influenced by several factors. First is the Federal Reserve's interest rate cut decision—although they announced a 25 basis point cut, the dot plot hints that the pace of rate cuts next year will slow down, which has a hint of hawkishness in the market. The crypto market's reaction is quite straightforward: initially hesitant, then gradually regaining momentum. Currently, Bitcoin is repeatedly testing the range of $92,000 to $93,000.

More importantly, about $4.5 billion worth of BTC and ETH options are set to expire today. Historical experience shows that large options expiration days tend to amplify volatility. Both bulls and bears are fighting hard right now; whoever relaxes first loses. Additionally, the AI sector in the US stock market is adjusting, leading to a decline in market risk appetite. With Bitcoin and the stock market so closely correlated, they are likely to be dragged together.

There is still one more shoe to drop—around 9:30 PM Beijing time this afternoon, the US November PPI data will be released. If inflation data exceeds market expectations, it could dampen the expectation of rate cuts, which is not very favorable for Bitcoin's short-term trend; conversely, moderate data can provide some support for the market.

Overall, the battle for the 90,000 level will be fierce, and volatility is expected to be high. Keep an eye on the PPI data and options expiration; by the close, the clues should become clearer.