Recently, Bitcoin's price has continued to fluctuate, briefly dropping below the $94,000 and $93,000 thresholds, before rebounding to around $94,700 and $95,700. The daily chart shows a bearish candle, presenting a typical 'Evening Star' pattern, and has still failed to effectively break through the resistance zone of $96,000. Currently, Bitcoin is near the important 120-day moving average, which has always been a key point for the struggle between bulls and bears.
There is still significant uncertainty regarding future trends. The direction of Trump's policies and the risks associated with U.S. debt remain unresolved; if Bitcoin rises against this backdrop, caution against a bull trap is warranted. If the macro environment improves, Bitcoin is likely to enter a long-term bull market similar to gold, and the Federal Reserve's interest rate cut schedule will also become a key catalyst.
There are many voices in the market that are bearish on altcoins, but in reality, the flow of funds is the main factor determining the altcoin market. Currently, the global money supply (M2) is rapidly expanding, which may trigger a new wave of enthusiasm in the altcoin market. Coupled with the abundant water season for Bitcoin miners from April to June, low electricity prices help to unleash capital vitality, and some POW small coins are expected to experience a surge. It is recommended to pay close attention to strong-performing altcoins, such as TRUMP and XRP related to the SEC.
