#BTC再创新高 The market tonight is quite something. I'm watching the charts, and considering the news, my view is very clear: high-level fluctuations, pressure on upward movement, but a deep drop is also difficult. The key point is the $110,500 life-and-death line. Below, I will break down the logic in simple terms, focusing on my personal judgment:

1. Why is there pressure on upward movement? After reaching new highs + macroeconomic bombs

After reaching new highs, some people will definitely exit: last night, it just surged to a historical high of $112,000. According to the old rules of the crypto circle, there will definitely be a wave of people choosing to take profits and cash out for safety. You can see that after the surge last night, it immediately retreated, with 100,000 people and over $500 million liquidated in 24 hours, indicating that market sentiment is exuberant but the chips are unstable; further upward movement will face heavier selling pressure.

Macroeconomic landmines: Trump's tariffs + Federal Reserve discrepancies: Trump suddenly announced that starting August 1, tariffs will be imposed on multiple countries (Tariff 2.0). This could push up inflation, while the minutes from the Federal Reserve's June meeting showed that officials were arguing fiercely over interest rate cuts. With these two matters combined, large funds may be cautious tonight and hesitant to push the market up aggressively.