Yesterday, the yield on US Treasuries surpassed 4.5%, while the US dollar index fell below 100 for the first time since July 2023. Long-term data and underlying logic show that the US dollar index has a negative correlation with Bitcoin, meaning that a weak dollar cycle often acts as a catalyst for a Bitcoin bull market.

Additionally, recent large whale purchases of Bitcoin have accelerated, reaching a new high for this year. Especially in the last two days, after Trump paused the trade war, the market outlook for the second half of the year is generally optimistic.

Returning to the technical aspect, bullish sentiment in the market also erupted again yesterday, successfully breaking through the daily mid-range resistance level of 83,200. The next level to watch is whether it can test the daily 200-day trend line resistance at 87,000.

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