The recent BTC trend of $BTC has been a bit puzzling, with prices repeatedly fluctuating without breaking key levels. The overall market sentiment is cautious, especially under the unclear policies of the Federal Reserve, leading to a strong wait-and-see attitude in the market. In the short term, BTC may continue to maintain a range-bound fluctuation, focusing on the support around $99,000 and the resistance at $94,000.

From on-chain data, the number of active addresses and transaction volume has slightly decreased, indicating a general market heat. However, in the long term, Bitcoin's fundamentals remain strong, such as the approaching halving cycle, and the signs of institutional positioning are becoming more apparent. If you are a long-term holder, it may be beneficial to look at the bigger picture; if you are trading short-term, remember to set stop-losses to avoid being washed out by market fluctuations.

In summary, the market direction is unclear, maintaining patience and managing risk is key.