The market for Bitcoin last night was quite interesting.

After the data was released, the price briefly spiked but quickly retreated, indicating that this breakout was clearly a false move.

The market may now be starting to adjust; even if the ultimate target is $102,000, it first needs to wash out a wave downwards.

Looking back at previous trends, when the price was between $76,000 and $84,000, the market was generally bearish, but it ended up rallying above $90,000. Now, however, most people are starting to turn bullish.

This reversal in sentiment is typical — a large number of retail investors chasing the price up in the $94,000-$97,000 range, and the main players are likely to wash these people out first.

In the short term, the price will at least retest around $92,000. This position is critical; if it can hold steady, there will be opportunities to push higher; if it can't hold, then we need to be cautious of a deeper correction.

The current market sentiment and chip distribution indicate that the main players need to clear out floating chips first in order to have enough momentum to drive the next wave of the market.

With interest rate cuts approaching, I plan to publicly position in a meme coin, expecting a short-term gain of 10 times, and looking at a long-term view of a hundred times. The same market conditions, top-level strategies — keep up to witness everything.