Midnight at 3 a.m., the crypto market is stirring again. The trading session on December 1st was a complete disaster—the price of Bitcoin plummeted sharply, breaking through the critical 87,000 support level without mercy, and it’s not far from the lows of April 2025. As a result, over 270,000 traders were liquidated, with nearly $1 billion in forced liquidations.

But the real devil behind this sudden crash is actually in Washington. The Federal Reserve’s December meeting minutes have just been released, revealing the fiercest internal battle in six years.

In simple terms, there were three dissenting votes in this FOMC decision—something that hadn’t happened since 2019. Both sides had their reasons, and the debate was intense. Some believe that a 25 basis point rate cut is too conservative and insisted on a 50 basis point cut to feel satisfied, which was the stance of Governor Milan. On the other hand, the Presidents of the Chicago and Kansas City Fed districts argued the opposite, advocating no rate cut at all and maintaining the current stance.

This is very interesting—some people think the rate cuts are not aggressive enough, while others think they are too aggressive. What does this indicate? The top officials at the Federal Reserve are actually unsure about the true economic challenges they face. With inflation risks and employment pressures both present, they haven’t figured out how to balance this contradiction. And the market, being highly sensitive to such uncertainty, immediately expressed distrust through sell-offs upon seeing this internal division.