From the data, the support level of $92900~$98500 remains very strong. The $98000 line is not only a technically dense area for chips but also the average cost line for short-term holders. However, the situation above is quite dire. The pressure is extremely heavy, roughly concentrated between $103000~$105200. It is unlikely to digest this pressure quickly. It requires two words: time.

Yesterday, $btc dropped to 98200 and held steady. As long as the situation in the Middle East does not further spiral out of control, $btc can maintain stability around 98000.

Yesterday, MicroStrategy also released a Bitcoin tracker, indicating they are bottom-fishing again, and short-term buying remains strong. Overall, this drop is primarily due to negative news from the Middle East conflict, with concerns that the conflict may escalate further, triggering risk-averse sentiment.

This wave of decline in the crypto market feels a bit unjust, as other markets have not dropped much, indicating that the crypto market is still too young and easily swayed by emotions.

Today, we can focus on whether the situation in the Middle East will escalate further, and whether Iran will truly block the Strait of Hormuz. #加密市场回调 #剥头皮策略 #美国国债 #MichaelSaylor暗示增持BTC