Intraday fluctuation range: $83,500-$85,500, tested the resistance level of $85,500 but did not effectively break through.

Trading volume: 24-hour trading volume is $26.3 billion, slightly down from the previous day, need to be cautious of 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 it holds, it may trigger an accelerated rise.

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

2. Market sentiment and capital flow

Institution behavior

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

On-chain data shows an increase in net outflows from exchanges, whale accounts continue to increase their holdings, supporting prices.

Risk factors

Small cryptocurrency liquidity crisis: After the OM token crashed by 80%, the market is wary of capital concentrating on Bitcoin, putting pressure on altcoins.