【Bitcoin stands at a crossroads, the bull and bear are only a K-line apart】

Currently, Bitcoin is hovering around $100,000, seemingly calm, but in reality, there are undercurrents.

1️⃣ Macroeconomic pressure has not eased: The U.S. CPI remains high, and expectations for a second rate hike are rising; if U.S. Treasury yields continue to climb, risk assets will face systemic valuation corrections.

2️⃣ On-chain funds are cautious: Data shows that in the past 5 days, the number of active Bitcoin addresses and transaction counts have both declined, indicating a growing wait-and-see sentiment in the market, while futures positions continue to accumulate, signaling that high-leverage speculation is nearing a breaking point.

3️⃣ Technical structure is at a critical point: The daily chart has tested the $100,000 support level three times in a row; if it breaks down further, it could trigger a chain liquidation effect, with support looking down to $92,000; conversely, if it breaks through $105,000 with volume, it may challenge the previous high of $112,000.

🔍 The most crucial variable is institutional behavior. Currently, addresses of exchanges like Bitfinex and Coinbase are continuously receiving net inflows of stablecoins, indicating that large funds may be accumulating positions at lower prices. However, this does not mean there is no risk in the short term; on the contrary—volatility is a trap, and speculation is harvesting.

📌 In summary: The bull market trend is not dead, but this is not the time for mindless all-in; instead, it is the moment to formulate tactical plans and strike accurately.

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