Technical analysis by Thorne- about Symbol BTC: Buy recommendation (12/3/2025)

Macro perspective: Expectation of interest rate cut returns + Negative news is digested, liquidity marginally improves In December, the expectation of the Fed's interest rate cut showed a "V-shaped reversal" - although it dropped below 50% at the beginning of the month due to the hawkish remarks of officials, the CME FedWatch data on November 28th indicated that the probability of a 25 basis point interest rate cut in December had risen to 86.9%. The core demand for loose liquidity from the market remained unchanged. More importantly, during the process where Bitcoin dropped from $84,000 to $83,000 on December 1st - 2nd, the three major negative factors that had previously suppressed the market (Fed's hawkish expectations, intensified regulatory measures in China, and the withdrawal of $20 billion in liquidity from TGA accounts) had been concentratedly released, forming the basis for a "technical recovery after the exhaustion of negative news". Cross-asset linkage also provided support. The correlation between Bitcoin and the Nasdaq 100 Index rose to 46%, and the stabilization of US tech stocks led to the restoration of risk appetite, with funds beginning to flow back from safe-haven assets to high-flexibility assets. Bitcoin trading strategy buy：91500-92500 tp:93500-95000 sl：90500Risk appetite has rebounded, and Bitcoin has entered an upward trend.