Let's talk about the recent trend of BTC. I mentioned before that the level around 94000 would be a hurdle, but having consecutively broken through 85000 and holding above 89000, this performance is actually quite solid.

However, to put it back in perspective, the downtrend of the larger cycle has not been completely reversed yet. This wave looks more like a technical rebound, and it's normal to see a pullback when encountering key resistance levels. There were some signs last Friday, coinciding with the rumors of the meeting of the 13 departments, and the price started to move sideways, but it calmed down over the weekend. As a result, on Monday morning, the negative news directly crashed the market, and in the evening, U.S. stocks continued to decline.

The rhythm of the news is quite tight - jumping directly from around 90000 to the 83000 area, this move can be considered as completing the second pullback, which also aligns with the expectations of many.

Currently, 89000 has become a new threshold on the chart. If it can break through smoothly, the pressure at 94000 should also not be too difficult to tackle. The second pullback has already completed, and now we will see if there are any substantial positive factors entering the market.

There are two interesting details today: one is that there is a large bet on BTC options looking bullish, with a scale of 20 billion dollars, which is hard to say is without some news; the second is that Trump is reportedly going to announce the new Federal Reserve chairman candidate.

But these may just be an appetizer, don't rush to get high, observe a little longer.