Last night, the market initially rose then fell. Bitcoin and Ethereum just rebounded briefly before being cooled down by the "hawkish" tone from the Federal Reserve and unexpectedly strong initial jobless claims data. Better employment data dashed expectations of rate cuts by the Fed, making the January rate hold essentially certain, which put direct pressure on high-risk cryptocurrencies.

Bitcoin's consecutive gains ended, falling back to around 95,100, while Ethereum also dropped to about 3,280. Both coins gave up all their gains. In the short term, expect range-bound fluctuations, with Bitcoin targeting 94,800-97,000 and Ethereum between 3,270-3,400. The key still depends on tonight's Federal Reserve speech—whether the hawkish tone continues or not will directly determine the short-term market trend. $BTC #加密市场观察