BTC: As of June 26, 2025, the current price of BTC is $107,800; yesterday's closing pattern was a "small bullish candle," accompanied by increased volume, indicating that bulls have shown some short-term strength, though the momentum is limited.

On-chain data shows that the U.S. spot Bitcoin ETF had a net inflow of 5,165 coins (approximately $548 million) yesterday, reflecting stable institutional confidence. However, the rise in turnover rate indicates active short-term funds, with market leaders primarily consisting of short-term players, while long-term players tend to be cautious at the current price level.

On the macro level, geopolitical tensions in the Middle East over the weekend led to the withdrawal of Bitcoin as a safe-haven asset, putting pressure on its price, while the U.S. stock market remained unaffected due to the weekend closure and continues to rise this week. If the U.S. stock market remains stable, Bitcoin may challenge the $110,000 mark.

Overall, this round of Bitcoin's rise seems more like a technical correction rather than a structural reversal. The short-term lacks significant positive catalysts, and coupled with limited liquidity, the market could retract at any time due to changes in sentiment. From an operational perspective, it is advisable to continue monitoring the strong support range below $93,000 to $98,000, while the support strength at $100,500 to $105,000 is relatively insufficient, posing a risk of a downturn.

Long-term entry points: $88,800-$89,100 range; $82,500-$82,800 range;

Position allocation suggestion: Long-term BTC should account for 50% of the total position;

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