As soon as Williams made that statement, the US stock market immediately bounced back. The VIX plummeted, and investors finally breathed a sigh of relief. Even more surprising, during the weekend—a period notorious for poor liquidity—Bitcoin managed to stage a slight rebound. Although buying power was clearly insufficient, at least it stabilized for the time being. If it had continued to fall over the weekend? I honestly can’t imagine how far it could have crashed.

Right now, the market’s biggest anxiety isn’t just whether there will be a rate cut in December. What everyone truly fears is that the Fed’s dragging pace could end up pulling the US directly into a recession. Corporate bankruptcy numbers are rising, unemployment is climbing—these are glaring signals. Fortunately, Nvidia’s earnings report was solid, showing that the AI bubble hasn’t burst—at least for now.

A rate cut in December would essentially be the Fed sending a signal: “We’re not going to just sit back and watch the economy decline.” Even if it’s a case of mending the fence after losing sheep, they still need to fix the fence. But if they insist on holding rates high and only plan two cuts in 2026? That’s a sword hanging over the market’s head.

Looking at Bitcoin’s on-chain data, turnover remains high today. Many people are likely treating the rebound as their last chance to escape—loss-making holders are starting to reduce their positions, especially those who bought the dip recently. Whether they’re in profit or loss, they’re eager to sell. The key now is how US stocks perform on Monday.

Despite the frequent turnover, the overall coin distribution hasn’t been shaken. Two key loss-level support zones are still rock solid, especially the $112,000 level, which is currently holding over 570,000 Bitcoins. Honestly, I didn’t expect that number to be so astonishing.