#美联储回购协议计划 Next week, several key macroeconomic events are approaching—FOMC minutes, unemployment data, and manufacturing PMI—all of which will directly influence whether Bitcoin can truly break through its sideways trading.

Let's first review last week's signals. During the Christmas holiday, gold, silver, and platinum were not resting; all hit new historical highs. This is no coincidence. Spot gold approached $4,550 per ounce on Friday, having gained over 70% throughout 2025; silver surged even more, briefly breaking $79 per ounce, with a single-day increase of over 10% on Friday. What does this reflect? A resonance of risk aversion sentiment and rate cut expectations, with investors voting with their feet.

Wait, what does this mean for Bitcoin? When precious metals surge, it usually indicates that the market is seeking safe havens, which often also signals a subtle change in liquidity conditions. As another class of safe-haven assets, cryptocurrencies tend to follow this emotional volatility.

Mark these key points next week:
- Wednesday at 3:00 AM, FOMC minutes release—this will reveal the strength of the rate cut signals
- Wednesday at 21:30, US initial unemployment claims—an indicator of the labor market’s health
- Friday at 22:45, December Manufacturing PMI final—an indicator of economic vitality

From the perspective of US stocks, the market is eagerly anticipating a year-end rally. Major indices are expected to close higher in December, and the previous weakness in tech stocks (due to concerns over AI investments) has eased considerably. If this momentum continues into next week, risk assets including Bitcoin will have a chance to breathe.

The key question is this—when the FOMC minutes confirm the path of rate cuts, combined with strong employment and manufacturing data, will liquidity tighten or loosen? Can Bitcoin leverage this momentum to break the current consolidation pattern? We’ll find out next week.