AT THE MACROECONOMIC LEVEL, UNCERTAINTY ABOUT GLOBAL ECONOMIC GROWTH STILL EXISTS, AND ALTHOUGH INFLATION DATA HAS SHOWN A EASING TREND, IT IS STILL AT A HIGH LEVEL. AGAINST THIS BACKGROUND, CRYPTOCURRENCY, AS AN EMERGING INVESTMENT ASSET CLASS, HAS ATTRACTED MORE INVESTORS WITH ITS SAFE-HAVEN PROPERTIES AND POTENTIAL HIGH RETURNS. IN PARTICULAR, BITCOIN, WHICH IS OFTEN REGARDED AS DIGITAL GOLD, HAS BECOME ONE OF THE IMPORTANT CHOICES FOR INVESTORS' ASSET ALLOCATION DURING ECONOMIC INSTABILITY.
FROM A TECHNICAL PERSPECTIVE, BITCOIN'S SHORT-TERM MOVING AVERAGE SYSTEM SHOWS A BULLISH ARRANGEMENT, INDICATING THAT THE SHORT-TERM UPWARD TREND IS STILL CONTINUING. HOWEVER, THE PRESSURE ON THE LONG-TERM MOVING AVERAGE IS STILL RELATIVELY LARGE. IF BITCOIN WANTS TO ACHIEVE FURTHER SUBSTANTIAL INCREASES, IT NEEDS TO BREAK THROUGH THE KEY RESISTANCE LEVEL OF $110,000 AND OBTAIN SUFFICIENT VOLUME SUPPORT. AS FOR ETHEREUM, TECHNICAL INDICATORS SHOW THAT IT IS IN A SHOCK CONSOLIDATION STAGE, WAITING FOR NEW CATALYSTS TO BREAK THE CURRENT BALANCE.
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