Bitunix Analyst: After breaking out, BTC's pullback may constitute a false breakout. In the short term, watch the 90,000–91,000 support and 93,200 resistance levels.

BlockBeats News, December 3rd: The crypto market saw a broad rally, with BTC briefly surpassing $93,000 before quickly pulling back, forming a suspected “false breakout” pattern on the technical side. The short-term structure has turned into a more volatile correction, with the market focusing on whether it can stabilize in the $90,000-$91,000 range, while $93,200 above has become the new resistance zone. On the ETF front, yesterday saw a net BTC inflow of $58.5 million and a net ETH outflow of $9.9 million, indicating that incremental funds are concentrated in Bitcoin, while Ethereum continues a moderate outflow trend.

On the macro level, Trump has once again strengthened his influence over Fed appointments, announcing that a new Fed chair nominee will be revealed early next year. He has repeatedly hinted that rate-cut advocate Hassett is his “preferred candidate,” and the market is quickly pricing in a potential shift in policy direction. If Hassett takes office, the probability of the Fed adopting a lower interest rate and more accommodative policy framework will rise significantly. However, the current environment also faces immense tension with inflation still above target and the labor market not fully cooling. This is likely to make the 2025–2026 policy outlook increasingly unstable, and the USD interest rate curve may re-enter a phase of abrupt volatility.

In terms of geopolitics, Trump has issued strong signals, stating that the Pentagon will “soon” launch land strikes against drug cartels in Venezuela and other locations, specifically naming several countries including Colombia. The market is concerned that an expansion of US military action could trigger a new round of risk-asset volatility and safe-haven flows.

Bitunix analysts noted that with macro personnel changes, geopolitical risks, and divergent ETF flows all present, the short-term crypto market trend will rely more heavily on clear technical signals. If BTC can hold firmly in the $90,000–$91,000 range, the structure could retarget the liquidation zone above $93,200; otherwise, a deeper correction may unfold. It is recommended to closely monitor capital flows, volatility expansion, and the pace of policy repricing as core indicators to determine whether this breakout has sustainability.