Today's BTC is strongly rebounding from a high position❗ Everything has a trace to follow...

BTC, as a complex risk asset, did not follow the decline of U.S. stocks this time, but instead followed the rise of gold.

Reason 1: Trump's remarks about the rules for gold holders led to a significant drop in the U.S. dollar index, resulting in capital outflow into BTC and gold.

Reason 2: Trump's intention to dismiss Federal Reserve Chairman Powell has shaken the stability of U.S. policy, and Musk's statement that Tesla's sales in Europe have fallen by 50% led to a significant drop in the Nasdaq index, which also resulted in capital flowing into BTC and gold.

Yesterday, BTC's uptrend deviated from U.S. stocks and instead followed the trend of gold, once again confirming that BTC indeed possesses the dual attributes of a risk asset and a safe-haven asset. After all, passing the ETF has its pros and cons; the advantage is that BTC can now be considered a commodity, making it an out-of-the-box product in the crypto space. However, it's worth mentioning that ETH also passed the ETF but instead followed the influence of U.S. stocks and declined, with both demonstrating the pros and cons of the ETF.

From the $340 million that flowed into cryptocurrency yesterday, it is clear that it primarily flowed into BTC, with none into ETH, resulting in differing trends for the two. Currently, BTC's market share in the crypto industry is 63%.

This wave of rebound is indeed strong for BTC, but once the market sentiment regarding the U.S. dollar index is digested, it will still likely pull back 📉, as there is no hot money entering the market, and it's unclear when BTC will follow U.S. stocks instead of gold. If BTC follows U.S. stocks, the long-term bearish view remains unchanged, as the U.S. economy is on shaky ground. Trump clearly knows that promoting gold will be bearish for the dollar, yet he continues to do so.

After dealing with tariffs and the Federal Reserve, with no more moves left, he again turns to the issue of dollar depreciation. How can we know what Trump will do next, or whether he himself has any idea how to achieve his goals? The market is fundamentally changeable and is difficult to remain unaffected by news.