PANews reported on December 11th, citing CoinDesk, that FxPro senior market analyst Alex Kuptsikevich stated that since November 21st, BTC has shown a gradual upward trend with localized highs and lows, but for the rebound to confirm the start of capitalized growth, the total market capitalization needs to surpass $3.32 trillion. Currently, the global cryptocurrency market capitalization is approximately $3.16 trillion, up 2.5% from the beginning of the week, but still below the previous high of $3.21 trillion.

According to CoinGlass data, leverage was the primary reason for the decline in BTC price. In the past 24 hours, $376 million in long positions were forcibly liquidated, nearly three times the amount of short liquidation. Despite the Federal Reserve's announcement of another interest rate cut on Wednesday, expectations of fewer rate cuts over the next two years limited market support.

QCP Capital predicts that BTC will fluctuate between $84,000 and $100,000 by the end of the year, while Bloomberg analyst Mike McGlone warns that a new "Santa Claus rally" may not materialize, and BTC could fall below $84,000 by the end of the year. Currently, the market is focused on whether BTC can hold the $90,000-$91,000 support zone. A break below this level could test the bottom of the current range, while a hold above it could lead to another challenge of the $94,000 resistance level.

Previous reports and analysis indicated that the market is awaiting next week's FOMC meeting, with expectations that leadership changes will lead to a more dovish stance.