BTC: As of May 19, 2025, the current price of BTC is $103,100; yesterday's closing pattern was a "small bullish candle," indicating increased confidence among bulls, with trading volume rising compared to the previous day, suggesting higher market participation. The closing pattern at 8 AM tomorrow is crucial, as it may form a "dark cloud cover" pattern. If confirmed, a short-term top signal will appear, indicating a risk of correction.

On-chain data shows that last week, Bitcoin spot ETF had a net inflow of $604 million, and Ethereum spot ETF had a net inflow of $41.59 million; indicating continued inflow of institutional funds.

On the macro level, Moody's downgrade of the U.S. credit rating has caused market volatility, compounded by Trump's policy statements, leading to market sentiment being driven by multiple factors. The Federal Reserve's dot plot for June and the expiration of tariff exemptions in July may bring uncertainty.

In summary, technical analysis shows that Bitcoin is at a critical stage. The $93,000 to $98,000 range is a strong support zone, remaining solid. The chips around $82,000 have largely been cleared, with remaining players mostly being long-term holders. The chips around $102,000 are primarily speculative short-term positions, making it difficult to form effective support. Bitcoin may form a "dark cloud cover" pattern on the daily level by tomorrow morning, and if confirmed, it may indicate a short-term top, with a potential for a larger correction. The opening of the U.S. stock market tonight and the closing at 8 AM tomorrow are particularly important, as they will determine the subsequent trend.

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