$BTC Let's take a look at the key factors driving the market. Last year, BTC surged due to three factors: the Federal Reserve signaling interest rate cuts, Trump supporting cryptocurrencies, and heightened market sentiment.

However, now, although Trump has taken some actions, the capital return is only in the tens of billions, which is limited in effect; there are no new market hotspots, and enthusiasm is low as everyone is waiting and observing.

What's worse, the Federal Reserve's interest rate cut in June is basically unlikely, with CME interest rate futures indicating over 90% probability of no rate cut.

Without the stimulus of rate cuts, large-scale inflows of stablecoins will be difficult, and lacking continuous funding support, it will be very challenging for BTC to break through its historical high and reach new highs.

So, while BTC appears tempting as it approaches previous highs, truly reaching the peak will require the arrival of funds and positive news to "ignite" it, so don't be blindly optimistic in the short term.

However, don't be too pessimistic; this is actually a kind of energy accumulation adjustment - as long as we hold on, we are building momentum for the next stage.