Technical analysis by Thorne- about Symbol BTC: Buy recommendation (12/6/2025)

1. Macroeconomic Policy: Unabated Rate Cut Expectations, Liquidity Easing Underpins Markets With the Federal Reserve’s December FOMC meeting approaching, market expectations for a rate cut have surged to a high of 89.2%. Major investment banks including Bank of America and Goldman Sachs have successively raised their rate cut forecasts. Key Fed officials continue to release dovish signals, which, combined with a weak U.S. labor market, provide real-world support for a rate cut. Bitcoin has a -0.75 negative correlation with the U.S. Dollar Index (DXY) — a weaker dollar directly benefits crypto assets. Previous policy uncertainties have been fully digested amid sustained pullbacks. Currently, the "exhaustion of bearish factors + easing expectations" forms the core macro logic for bullish positions. 2. Capital Flows: Institutional Bottom-Hunting + Dwindling Selling Pressure, Optimized Capital Structure Capital markets are showing clear bottoming characteristics: - Institutions maintain continuous accumulation via ETFs, with the institutional ownership ratio of U.S. spot Bitcoin ETFs climbing to a new high of 40%. - Exchanges recorded a 24-hour net outflow of over 4,200 BTC, pushing tradable supply to a six-year low as chips concentrate in the hands of long-term holders. - Off-exchange (OTC) large-value order volume has increased significantly. Whales are actively absorbing selling pressure around the $89,000 level, in stark contrast to retail panic selling, indicating that selling pressure has entered a state of exhaustion. Bitcoin trading strategy buy：88500-89500 tp:91000-92000 sl：87500With the expectation of a loose policy, the bullish momentum for Bitcoin has been fully unleashed.