The recent surge of Bitcoin at 76,841,696,432 on Wednesday morning was mainly driven by market sentiment. When sentiment is high, prices rise; when sentiment weakens, a correction is inevitable. Positive news can only temporarily influence short-term trends and is unlikely to change medium to long-term trends.

In trading, one could attempt to short near the 97,800-98,000 resistance level while setting a stop-loss at 98,500, betting that it cannot effectively break through. If a false breakout occurs followed by a quick drop, Bitcoin may begin a downward trend, with the initial target looking at 93,000.

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