If the position is heavy, then reduce it a bit on the rebound. In fact, looking at the recent activity level of funds, it's basically just Bitcoin and Ethereum, and then there's DeFi. Although Solana looks a bit strong, the activity level of funds is slightly less robust!

Actually, it's very difficult for the market to break a new high in the upcoming trend. Although it's not advisable to seek swords by carving a boat, the recent market trend resembles that of last July at 7.3, which is in a position of neither up nor down!

From a structural perspective, there’s no need to be so melancholic. Currently, there’s too little circulating Bitcoin in the market. Compared to when the Russia-Ukraine war started without an ETF, the moment the news broke, it dropped more than ten percent; this strength is much weaker now.

Looking at the short term, 100,000 is a psychological threshold for most funds. If buying pressure doesn't break it, it will provide support; conversely, if it breaks, it might accelerate a bit.

Then there's the Trump family wanting to issue B tokens again; it's really just for the sake of circulating liquidity, which is so poor that they still want to suck blood!

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

Then there's the situation in the Middle East and whether oil prices will continue to soar. If they keep rising, inflation expectations will increase, and the expectation of interest rate cuts in September will decrease. However, I believe the probability of a rate cut in September is over 90%!