Last night's dovish statement from Old Bao significantly raised market expectations for a rate cut in September. The weakening dollar boosted the performance of risk assets. According to on-chain data, the average cost of large short-term holders is around 109,000, and the current price is still above this level, indicating that main funds still have a profit buffer, reducing the pressure for large-scale selling.
It is recommended to gradually establish long positions when the price pulls back to the 115,200—114,200 range.
Targeting the 118,000 and 120,000 levels. $BTC