The recent trend of Bitcoin (#微策略募资支持比特币战略 ) has shown significant volatility, and here is a specific analysis:

Price Trend from February 3 to February 5

- February 3: Bitcoin's price plummeted from $102,514.17 to a low of $91,242.89, with a daily decline of over 10%, and a total liquidation amount across the network reached $2.3 billion.

- February 4: The price fluctuated between $91,000 and $94,500, forming a 'doji' pattern, indicating fierce battles between bulls and bears.

- February 5: During the Asian trading session, Bitcoin's price fluctuated narrowly between $96,000 and $98,000, slightly rebounding 1.8% from the previous day's closing price.

Factors Influencing Recent Trends

- Macroeconomic Factors and Policies: The Trump administration's tariffs on imported goods have raised market concerns over a trade war, leading to a sell-off of risk assets. The divergence in monetary policies between the Federal Reserve and the Bank of Japan has exacerbated market volatility. However, the new U.S. government plans to promote pro-cryptocurrency policies, including changing the SEC chair and establishing a Bitcoin strategic reserve, have boosted long-term bullish expectations.

- Technical Adjustments and Institutional Behavior: Bitcoin briefly surged to $108,000 in early February, followed by a correction due to profit-taking and leveraged liquidation. Some institutions increased their cash reserves during the crash, planning to buy quality altcoins at lower prices.

- Market Sentiment and Cyclical Patterns: On February 3, the fear index (VIX) soared by 74%, but historical data shows that after such extreme volatility, Bitcoin often rebounds within 15 to 20 days.

Technical Analysis

- Support Level: The short-term key support levels are at $91,000 (February 3 low) and the psychological level of $90,000. If broken, it may test the $70,000-$75,000 range. As of February 5, new support levels to watch are around $95,000, and if broken, it could further test $93,000.

- Resistance Level: The short-term resistance levels above are $94,500 (February 4 high), $98,000 (Fibonacci 38.2% retracement level), and $105,000. A breakout above $105,000 would confirm a new upward trend. $BTC