Bitunix Analyst: After breaking through, BTC may experience a pullback or form a false breakout. In the short term, we should pay attention to the support at 90,000–91,000 and the resistance at 93,200.

December 3rd saw the crypto market trend broadly higher: Bitcoin briefly topped $93,000 before paring those gains, forming a technical setup that looks like a "false breakout." The short-term structure has switched to a more choppy pullback, with markets watching whether BTC can hold steady in the $90k-$91k range—its new resistance now sits at $93,200. On the ETF front: Yesterday brought net inflows of $58.5 million into BTC funds and net outflows of $9.9 million from ETH funds. This signals incremental capital piling into Bitcoin, while Ether keeps its mild outflow streak going. Macro-wise: Trump has again highlighted his sway over Federal Reserve personnel picks, hinting he’ll name the new chair early next year. He’s repeatedly floated rate-cut proponent Hassett as his "preferred pick," prompting markets to quickly price in a potential policy shift. If Hassett takes the role, the odds of a Fed framework tilted toward lower rates and looser conditions will jump sharply. But the current landscape has major tension: inflation remains above the Fed’s target, and the labor market hasn’t fully cooled off. This will stoke more instability in the 2025-2026 policy outlook, which could send the U.S. yield curve back into volatile swings. Geopolitically: Trump has sent strong signals, saying the Pentagon will soon carry out ground strikes against drug trafficking groups in Venezuela, Colombia, and other nations. Markets are worried expanded U.S. military operations could spark a new round of volatility in risk assets. Bitunix analysts note that amid macro personnel shifts, geopolitical risks, and ETF fund divergence, the crypto market’s short-term trend will depend more on clear technical signals. If BTC can hold firm in the $90k-$91k range, the trend will shift back toward the liquidation zone above $93,200; if not, a deeper pullback could follow. Traders are advised to monitor fund flows, volatility spikes, and the speed of policy repricing as core metrics to gauge the breakout’s sustainability.