U.S. manufacturing data is weak, BTC is struggling around $87,000, can it break the key level of $88,000?

[BitPush] The U.S. manufacturing data for November has left the market in a dilemma again - the ISM PMI reported 48.2, remaining in the contraction zone for nine consecutive months. Originally, everyone was hoping to see some signs of recovery, but as soon as this data came out, the expectations for interest rate cuts became more solid, while recession fears also surfaced.

What is more troublesome? Trump is making frequent moves, and the new Federal Reserve chair candidate has yet to be finalized, causing the market to start feeling anxious in advance. Whose advice will monetary policy heed in the next six months? The current chair says one thing, while the incoming chair may have a different approach. This kind of “dual core signal” confusion could potentially throw the dollar and interest rate expectations into chaos.

The crypto market was also busy last night. BTC climbed from a low point to around $87,000, looking like it was rebounding, but in reality, the overall structure is still weak. The key point now is very clear—can it break through the $88,000 liquidation zone? If it can’t get above that, it’s highly likely it will turn back to test the support at $85,000.

From the perspective of liquidity distribution, there are currently three major nodes: short liquidation pressure at 88000, and long liquidation areas at 85500 and 83800. The short-term volatility risk is significantly higher, and if policy uncertainty continues to brew, BTC is likely to oscillate back and forth within this range, with direction entirely dependent on how liquidations play out.

The breakout point is 88000 upwards, while 85000 and 83800 downwards are two lines of defense. In simple terms, the U.S. monetary policy is currently in an unprecedented transitional period, with the shadow chairman effect compounded by a vague inflation path. The market will have to repeatedly digest these uncertainties in the coming weeks. The short-term trend of BTC still needs to closely monitor the flow of funds, changes in volatility, and the direction in which policy signals converge.