This weekend, the crypto market saw a rebound, which seems like institutions are quietly building a position. But to be honest, everyone is still a bit uncertain - can this rise hold? No one can say for sure. Bitcoin is currently in a rather delicate position. Everyone is watching the two hurdles of $107,000 and $110,000. Whether it can break through will determine whether it continues to rise or pulls back. Interestingly, this round of rise is mainly driven by spot trading, and the open interest data has basically shown no fluctuations. What does this indicate? Those who play with leverage are still observing and have not dared to enter the market on a large scale. Although market sentiment is somewhat bullish, the cautious sentiment is clearly stronger.

#美联储降息预期 The Fed's expectations for rate cuts have become cautious, and it seems that risk assets will suffer a bit. Bitcoin is currently below the 7-day and 30-day moving averages, looking bearish in the short term. However, MicroStrategy is still making money through Coin Hoarding, and institutional demand remains. Over in the U.S., encryption regulations and ETF applications are also progressing, which remains optimistic in the long term. Currently, BTC is fluctuating around $110,000, completely controlled by policies and large funds. This market really tests people; one has to keep an eye on the news constantly.