The expectation of a pullback against the US dollar is the reason for most of the bullish logic, but from the market perspective, the main players do intend to take advantage of the expectation of a dollar decline to continue bullish on Bitcoin and seize the opportunity to sell high positions. Meanwhile, the dollar breaking above $110 is more likely, at which point the main players will clear their positions for profit, leading to a sharp drop in the crypto market and retail investors being trapped.