#数字资产市场观察 💬 How was the first trading day of December? The market gave a little surprise.

Yesterday's wave of selling scared a lot of people, but today we've finally recovered — the total market cap of the crypto market climbed back to $2.97T, a 1.6% increase. $BTC bounced from a low of $83.8K to $87.5K, a 2% increase. It may not seem like much, but the total liquidations across the network in the past 24 hours exceeded $1 billion, making for an exciting scene of both longs and shorts getting wiped out.

The Federal Reserve suddenly announced the halt of balance sheet reduction, which has led many to ponder: is liquidity about to ease? Short-term market sentiment has warmed a bit.

On the altcoin side, $ETH has been inching up to $2,840, performing rather steadily. In contrast, ADA, BNB, and $SOL are leading the charge, with 63% of the top 100 coins in the green, which can be considered a collective sigh of relief.

There are two notable actions at the institutional level: Vanguard has opened a batch of channels for cryptocurrency ETF subscriptions, and Bitnomial has directly established a CFTC-regulated spot exchange. However, the fund flow for ETFs is somewhat subtle—yesterday, there was weak net inflow, and the ETH ETF also saw a large withdrawal.

The sentiment indicators are still very honest: the Fear and Greed Index stands at 23, solidly in the "Extreme Fear" zone. How the market moves next may still depend on the Federal Reserve's next policy steps and macroeconomic data.