Bitcoin is currently priced at $90,500, repeatedly testing the oscillation range between $89,500 and $91,500. Behind this wave of market movements, the December US non-farm payroll data has become a key disruptor—adding only 50,000 jobs with an unemployment rate of 4.4%. The mixed data directly triggered market sentiment swings. US stocks rose, but the dollar strengthened, which is undoubtedly a pressure on crypto assets.

In terms of capital flow, the US spot BTC ETF has experienced net outflows of $1.128 billion for three consecutive days, indicating that institutions are cashing out at this level. Interestingly, ETFs for ETH and other coins are seeing net inflows, suggesting that large investors are diversifying their holdings and no longer solely betting on Bitcoin. Meanwhile, MicroStrategy bought another 1,287 BTC at an average price of $90,391, now holding over 670,000 coins with an average cost of just $75,024—this execution capability is indeed formidable.

While the short-term market faces pressure, liquidation cases are also intense: over 80,000 traders worldwide were liquidated within 24 hours, totaling over $200 million. This shows that leveraged traders have been caught off guard when shorting at highs or chasing longs at lows. Additionally, a major exchange's restructuring and layoffs, along with regulatory authorities pushing forward the stablecoin framework, are changing market expectations.

Ethereum is currently trading at $3,080, with the recent active range between $3,050 and $3,140. From a trading perspective, consider shorting near $91,500–$92,000 and going long near $89,000–$89,500, each with a 500-point stop-loss; for ETH, short near $3,140–$3,150 and long near $3,050–$3,080, each with a 30-point stop-loss. However, weekend liquidity is often insufficient, and increased volatility is normal. Be sure to control your position sizes; quick in and out trading is the way to go.