Below is the analysis of Bitcoin:

Price Trend

In 2025, Bitcoin's price fluctuated wildly, dropping to $88,000 at one point before rebounding, but overall volatility remained high. As of June 9, the price was around $105,700, in a consolidation and recovery phase after a rapid decline. The daily Bollinger Bands have flattened, and after touching the lower band, a rebound has begun; the middle band of the daily chart is the lifeline for bulls. From the four-hour chart, after the previous wave structure correction is complete, if the price fails to break through the high of the fourth wave, it may still face downward pressure.

Market Situation

After the sharp decline, market trading volume initially surged, then retreated but remained at a high level. Market sentiment is complex, with some investors panicking and exiting, while others see it as a buying opportunity, leading to intense long-short battles.

Influencing Factors

• Macroeconomic Environment: Global economic growth is slowing, inflationary pressures are increasing, central banks in various countries are adjusting monetary policies, and interest rate hikes have raised funding costs, leading to a decreased preference for risk assets among investors, impacting Bitcoin.

• Industry Regulatory Dynamics: Some countries are strengthening regulations, restricting Bitcoin trading and usage, such as banning financial institutions from participating in related businesses, which suppresses market demand.

• Technical Factors: The Bitcoin network faces issues such as transaction congestion and rising fees, reducing its attractiveness as a payment tool, and technical vulnerabilities have raised concerns among investors.

• Geopolitical Factors: Increased tensions in regions like the Middle East can trigger sharp declines in the cryptocurrency market; on June 13, Bitcoin's price briefly fell below $103,000, with an intra-day drop of over 4%.

• Market Supply and Demand Relationship: After the halving in 2024, Bitcoin supply will decrease, but on-chain transaction activity is declining, so it is crucial to monitor whether subsequent demand can be sustained.

Investment Strategy

Short-term investors should be cautious, consider building positions in batches, and set stop-loss points; they may also engage in swing trading. Long-term investors must recognize their risk tolerance, allocate assets reasonably, and if optimistic about long-term development, can appropriately increase their holdings, but should regularly monitor market changes and adjust strategies in a timely manner.