[QCP: Market Focuses on This Week's Fed Meeting, Bitcoin Year-End Liquidity Bottoms Out with Intense Volatility] BlockBeats News, December 8, QCP released its daily market commentary stating that BTC experienced intense fluctuations between $88,000 and $92,000 on Sunday, while ETH quickly surged from $2,910 to $3,150. As year-end liquidity continues to decline, the market has become particularly sensitive to small capital flows. However, despite the strong volatility, the scale of liquidations remains relatively small, indicating that market participation and positions have continued to decrease this quarter. Open interest in perpetual contracts for the two major assets has dropped 40–50% from October highs, and retail sentiment has returned to bearish levels. Meanwhile, the supply side is tightening significantly. Over the past two weeks, approximately 25,000 BTC have been withdrawn from exchanges, and ETF and corporate holdings have surpassed exchange balances for the first time. ETH reserves on exchanges have also fallen to near ten-year lows, indicating that while retail investors are exiting, long-term capital is quietly accumulating. The market's focus has shifted to Wednesday's Fed FOMC meeting. Although the market broadly expects a 25bp rate cut, guidance on the balance sheet will determine the year-end trajectory of risk assets. Currently, BTC remains volatile within the $84,000 to $100,000 range, while market depth continues to deteriorate. With the year-end holidays approaching, any breakout on either side could trigger the next major trend movement.