BTC: As of March 28, 2025, the current price of BTC is $85,000; the daily chart has formed a "spinning top" for three consecutive days, indicating insufficient upward momentum, with volume continuously shrinking and market sentiment being low.

On-chain data shows that the net inflow of Bitcoin ETFs in the US yesterday was 1,024 BTC (approximately $8.9 million), indicating that institutional funds still have confidence, but trading volume has fallen below the lows of 2023-2024, with turnover rates also declining, leading to a strong wait-and-see sentiment among investors. URPD data indicates that the accumulation of chips in the $83,700-$85,500 range has intensified, and the market is building strength for directional selection.

On the macro level, the core PCE data to be released tonight at 20:30 (previous value 2.6%, expected 2.7%) will become a watershed for short-term trends. If the data exceeds expectations, inflationary pressures may intensify market risk aversion, putting Bitcoin under downward pressure; if the data falls below expectations, it may boost confidence and lead to a rebound. Today's decline is partly influenced by rumors of automobile tariffs, compounded by the market's cautious attitude towards the PCE and the University of Michigan's inflation expectations (4.9%). Next week's tariff implementation and employment data will further impact the trend.

In summary, Bitcoin's short-term trend is weak, with a focus on the daily 30-day moving average at the $85,000 level. If it holds, we can expect stabilization and a continued rebound; conversely, if it fails to hold, further declines may occur, potentially creating new lows in the future.