In the past week, Bitcoin surged from $85,000 to $95,000. Behind this seemingly soaring market are three key signals. These signals not only reveal the essence of this round of market but also foreshadow significant changes that may occur in the coming week.

Who is really driving this round of market?

Contrary to what retail investors might imagine, the core driving force of this round of market comes from traditional financial institutions in the US. The Coinbase trading platform continues to lead Binance in price trends, with over $3 billion flowing into ETFs in a single week, and the news that 'sovereign funds are buying crazily' flowing out of institutions all point to one fact: Wall Street is rewriting the rules of the cryptocurrency game with real money.

This institution-led market shows two major characteristics:

Firstly, price fluctuations are relatively restrained, with Bitcoin achieving a breakthrough of nearly 10,000 points with only a 7% increase;

Secondly, the scale of short liquidations is unusually mild; several hundred million dollars in liquidations is hardly significant in historical terms.

This 'dull knife cutting meat' style of rising exposes the operation techniques of traditional capital— they do not need drastic fluctuations, just a continuous inflow of funds.

Market fatigue under the long-short game

When the price reached $94,000, the market suddenly fell into a strange calm. This calm hides three crises:

First, the three major economic data points—US GDP, PCE price index, and non-farm payroll data—will be announced next week. Any data that exceeds expectations could become the trigger for a market explosion;

Second, the earnings reports from tech giants and MicroStrategy's holding report will arrive simultaneously, and these two forces may create a hedging effect;

Most importantly, the current price is just a step away from the psychological barrier of $100,000, but the market lacks substantial positive support.

This sense of fatigue is particularly evident during the Asian trading session over the weekend—trading volume plummeted, and prices oscillated repeatedly within a narrow range. It's like the calm before a storm, with all traders holding their breath waiting for the Federal Reserve's next move.

The key 48 hours next week

April 30 will become the real 'Judgment Day.' When the US first-quarter GDP data and core PCE price index are announced simultaneously, the market will face two extreme choices: if the data points to an economic recession, funds may flow back into cryptocurrencies seeking safety; if the data shows stubborn inflation, the expectation of interest rate cuts will be shattered, directly hitting risk assets.

This black-and-white expectation is pushing Bitcoin to a crossroads.

Main funds seem to be positioning themselves in advance. The perpetual contract funding rates on exchanges continue to decline, while open interest in futures rises against the trend, indicating: smart money is accumulating energy for possible severe fluctuations.

Traps that ordinary investors must be wary of

When mainstream currencies are in a stalemate, the market often spawns dangerous 'alternatives.' Those projects that suddenly surge in the observation area, the so-called air coins claiming to launch their mainnet soon, and the altcoins waving the banner of technological innovation, are essentially 'doomsday runs'—the project parties are rushing to complete the final harvest before the regulatory crackdown comes.

A harsh truth: when the market makers start to push the price, they are never thinking about making retail investors money, but rather how to cash out faster.

For ordinary investors, three principles need to be remembered:

Position management is above all; heavily betting is akin to gambling.

Protecting existing profits is more important than fantasizing about higher returns.

Stay away from all small-cap coins that 'suddenly launch.'

Survival rules at the moment of breaking the deadlock

In the face of possible severe fluctuations, investors need to prepare for two scenarios:

If Bitcoin chooses to break upwards, focus on whether it can stay above $95,000 on the 4-hour chart;

If there is a pullback, $92,500 will become the watershed between bulls and bears.

But no matter how the market evolves, be wary of the 'false breakout' trap—any one-sided trend before major economic data is released may be instantly reversed.

Historical experience tells us that when traditional financial institutions deeply intervene, the operational logic of the cryptocurrency market is undergoing fundamental changes. Those speculators expecting a violent price surge may be disappointed, but investors who are good at capturing structural opportunities might find new survival space in the flood of institutional funds.

What needs to be done now is not to predict the market, but to be prepared for any extreme situations that may arise.