Recent meetings with Wall Street executives have revealed several key trends in the encryption currency market:

Firstly, the market fluctuations caused by the Middle East situation have depleted retail investors' funds, but institutional short positions have not yet started to cover. Market participants are closely watching for when a significant upward trend will emerge.

Secondly, the daily trading volume of Bitcoin ETFs has reached an astonishing 10 billion, which puts tremendous pressure on market makers. To maintain the confidence of institutional investors, the market may need to create new highs.

Third, as gold prices continue to rise, Bitcoin's positioning as "digital gold" is facing challenges. The market expects Bitcoin to make a corresponding price response.

Fourth, after a round of cleansing, small cryptocurrencies may leave some space for a few projects to survive in the market. However, the main focus may shift to driving up the price of Bitcoin to stimulate overall market sentiment.

Fifth, there may be an information vacuum period in July. In this case, price increases often lack clear driving factors, which may instead lead to more severe market fluctuations.

Finally, it is worth noting that reaching a historical high does not mean the end of a bull market; rather, it may signify the beginning of a new round of profit-taking. Large investors may take this opportunity to gradually exit, while retail investors may continue to chase the upswing at this stage.

Overall, the current market environment is complex and volatile, and investors need to remain vigilant, closely monitor market trends, and develop appropriate risk management strategies.