QCP flags year-end liquidity squeeze as Bitcoin trades between $88,000 and $92,000 ahead of Fed FOMC decision on Dec. 11

QCP said in a Dec. 8 market update that Bitcoin traded in a volatile $88,000–$92,000 range on Sunday while ETH rose from $2,910 to $3,150, as shrinking year-end liquidity leaves markets highly sensitive to smaller flows. The firm noted that despite the sharp moves, liquidations remained limited and both BTC and ETH perpetual open interest has fallen 40–50% from October highs, with retail sentiment back at bear-market levels and supply tightening as roughly 25,000 BTC left exchanges in the past two weeks, ETFs and corporates now hold more coins than trading platforms, and ETH exchange balances have dropped to near decade lows. According to QCP, market attention is shifting to Wednesday's Federal Reserve FOMC meeting, where a 25bp rate cut is widely expected but balance sheet guidance is seen as key for risk assets into year-end, with BTC still ranging between $84,000 and $100,000 as market depth deteriorates and potential breakouts on either side could set the next major trend.