The recent Bitcoin market has experienced significant fluctuations. Technically, the price is hovering near key moving averages, and the MACD indicator shows short-term pullback pressure. However, the Bollinger Bands' medium to long-term channel remains upward sloping. In terms of market sentiment, institutional capital injection and geopolitical hedging provide some support, but macro uncertainties also make investors cautious. In the future, if it can break through key resistance levels, it is expected to continue its upward trend; conversely, it may test support levels. It is advised to closely monitor market dynamics and manage risks appropriately.