QCP: Bitcoin holds steady at 92K, market cautiously awaits Fed and BOJ decisions

QCP's briefing indicates that the Asian market opened steadily, with Bitcoin prices maintaining around $92,000, and selling pressure has noticeably weakened, although overall market sentiment remains cautious.

ETF inflows have slightly rebounded to $56.5 million, following over $1.1 billion in weekly redemptions in November. Market focus has now shifted to tonight's Federal Reserve FOMC meeting. While the interest rate decision is fully anticipated by the market, investors will closely watch Powell's tone in his remarks. Following that, the Bank of Japan's meeting on December 19 will become the next risk catalyst, as Japanese government bond yields have risen to multi-year highs, potentially affecting dollar/yen arbitrage trades.

Bitcoin has shown significant volatility this year, retreating from a mid-2025 high of $123,000 and currently trading in the $90,000-$93,000 range, down about 3-7% year-to-date. Corporate treasury demand continues to provide important support for the market.