Bitcoin is currently in a recovery phase, with technical indicators showing bullish signs. Market sentiment has improved from 'extreme fear,' and on-chain data along with ETF demand indicate strong interest from both institutions and retail investors. However, global economic uncertainties (such as trade wars) could pose short-term risks. If it breaks through the resistance at $87,500, it may continue to rise; if it falls below the support at $78,000-$80,000, it may test lower levels.

The overall trend is cautiously optimistic, and investors should pay attention to global market dynamics and breakthroughs in technical levels. As a risk asset, Bitcoin may fluctuate with the stock market, but its decentralized nature may attract more institutional attention in the current environment.