$BTC BTC $ETH $XRP

The recent surge in Bitcoin has been a slow grind ➕ sideways movement, which is exhausting. It's not easy for those shorting to reverse their positions, and those going long lack the patience to hold. The essence of the surge is that major institutions represented by BlackRock and MicroStrategy are having difficulties unloading their positions. The lack of buying pressure has forced a hard pull from 74,000 to the present. Retail investors and large players are not foolish; they all know this is a high point.

From a technical perspective, if this continues to oscillate, it will form a standard head and shoulders pattern. I originally thought there wouldn't be a right shoulder, but the main players are incredibly powerful. BlackRock, MicroStrategy, Vanguard—these giants indeed have the ability to defy the odds. But you must firmly believe that Wall Street capital is profit-driven. No matter how strong a market or asset, there is no trend that only goes up without any downturns.

I admit that Bitcoin is no longer the Bitcoin of a few years ago; it has transformed from a technology-driven cryptocurrency into a tool of power and capital. It is precisely because of this that it can rise to 110,000; otherwise, who could pull it from just over 10,000 to 110,000? Was it retail investors who drove it to 110,000? Therefore, Wall Street capital has made profits of tenfold or even several dozen times over.