Bitcoin hit a weekly low when the Federal Reserve adopted a dovish stance, leading traders and analysts to believe a short-term bottom is forming.

On November 23, Bitcoin continued its downward trend this week, falling from a high of $96,000 to a low of $80,600 around 8:25 PM Beijing time on Friday, November 21. That evening, several Federal Reserve officials delivered positive speeches, reversing the market's previous view that a December rate cut was highly unlikely. The earliest speech coincided almost perfectly with the $80,600 low, including: New York Fed President Williams stated that given the current slightly tight policy, a rate cut by the Fed in the near term is still possible. Inflation is stagnant, but is expected to reach the 2% target by 2027. Fed Governor Milan stated that the impact of Thursday's non-farm payroll data was "clearly dovish," and insufficient data does not mean the Fed did not make predictions. Fed Vice Chairman Jefferson also stated that he believes the current surge in US stocks related to artificial intelligence is unlikely to repeat the collapse of the dot-com bubble in the late 1990s, mainly because today's AI-related companies are more mature and have real profitability. Federal Reserve official Logan stated that he expects the Fed's balance sheet to resume growth soon. Following a dovish stance from multiple officials, the three major US stock indices opened higher, and Bitcoin simultaneously rebounded. The market's perception of a December rate cut quickly rose above 70%. As of press time, Bitcoin's rebound had briefly broken through $86,000. Several market analysts and traders believe a "short-term bottom has appeared," including: Renowned Chinese crypto analyst Banmuxia stated that $80,500 can be considered a significant low point in this bear market, perhaps even the absolute bottom, but the bear market is not over, and further consolidation at the bottom is likely. Cryptocurrency trading indicator analysis platform CoinKarma pointed out that the spot trading volume of BTC at the daily close on November 21st showed the highest volume in recent times across multiple trading platforms, indicating significant market turnover. This structure of "high turnover and volume-driven stabilization" is a typical short-term bottom signal. Chris Burniske, a partner at Placeholder VC, said the cryptocurrency market seems poised for a rebound until it's bullish enough to get people bullish again before the next crash.