$BTC Daily Fluctuation Range: $83,500 - $85,500, tested the $85,500 resistance level but did not effectively break through.

Trading Volume: 24-hour trading volume is $26.3 billion, slightly down from the previous day, caution is needed for the risk of 'upward movement without volume'.

Technical Indicators

MACD: The 4-hour chart golden cross continues, momentum bars are moderately expanding, but have not entered the overbought zone (RSI around 60).

Key Resistance: $85,500 (short-term breakout point), if sustained, may trigger accelerated upward movement.

Support Level: $83,000 - $83,500 (strong support zone), if broken, may trigger short-term selling.

II. Market Sentiment and Capital Flow

Institutional Behavior

A publicly listed company recently purchased 3,459 BTC for $285 million, with a net inflow of $130 million for ETFs in a single day, indicating long-term capital inflow.

On-chain data shows an increase in net outflow from exchanges, with whale accounts continuing to increase their holdings, supporting the price.

Risk Factors

Small coin liquidity crisis: After the OM token plummeted by 80%, the market is cautious about funds concentrating on Bitcoin, putting pressure on altcoins.