On the first day of December, the Mainstream Token gave the market a "welcome gift"—how many people were stunned by last night's Plummet?

Let's look at the data: #数字货币市场回升 surged to 92133 on the 4-hour chart, then a big bearish candle directly broke through the short-term support, plummeting to as low as 86941 at its worst. On the $BTC side, it was even more dramatic, dropping straight down from a high of 3053, with a nearly 7% plunge in less than an hour, hitting a low of 2830. The previously stable oscillating pattern was instantly disrupted.

The question arises: is this a normal pullback, or is the market about to change? From the K-line pattern, both coins have long lower shadows - indicating that there are indeed buyers stepping in below. However, at the same time, the short-term moving averages have started to turn down, and the trading volume has clearly increased, suggesting that the bulls are struggling to hold on.

For the entire month of December, this is both a "cold shower" and a touchstone. BTC must hold the line at 86600, while ETH needs to stabilize above 2820; otherwise, they may continue to weaken. Conversely, if they can rebound and reclaim the two levels of 90000 and 2950, the volatile market may continue.

The cryptocurrency market has never been short of volatility. Tonight, it’s better to focus on these key support levels – is it a corrective rebound, or is the adjustment just beginning? Let’s wait and see.