If the position is heavy, then reduce a bit on the rebound. In fact, looking at the recent funding activity, it mainly revolves around Bitcoin and Ethereum, and then DeFi. Although Solana seems to have some strength, the funding activity is slightly weaker and not that strong!

In fact, it will be difficult for the market to break a new high in the near future. Although it's unwise to wait for the sword in the boat, the recent market trend resembles that of July last year, stuck in a position that is neither up nor down!

From a structural perspective, there’s no need to be overly emotional. Currently, there’s too little circulating Bitcoin in the market. Compared to the time of the Russia-Ukraine war when there was no ETF, news would cause a drop of more than ten percent instantly; this time, the impact is much smaller.

Looking at the short term, a psychological barrier at one hundred thousand is present for most funds. If buying pressure doesn't break, it will provide support; on the contrary, if it breaks, it may accelerate a bit.

Then there's the Trump family again planning to issue B, really just to circle and suck liquidity in such a poor state!

Additionally, the stablecoin bill will be voted on in the House on the 18th. If passed, it will be considered a positive development.

Finally, regarding the situation in the Middle East and whether oil prices will continue to surge, if they keep rising, inflation expectations will escalate, and the expectations for rate cuts in September will decrease. However, I believe the probability of a rate cut in September is over 90%!