After the Iran war, speculation about interest rate cuts began, but there has been no actual policy implemented, so the expectation is merely retail investors' guesswork regarding the Federal Reserve.
Additionally, in the past month or two, BTC trading volume has severely declined with hardly any trading activity. From a longer-term perspective, although this recent surge was significant, it was characterized by a rise without volume, and most of the short positions have been liquidated. Tariffs and the Iran incident have led to a decrease in trading volume, and retail investors are reluctant to enter the market, so a new high needs to be created to boost market sentiment and attract fresh capital.
