I had planned to submit my homework and go to bed earlier, but I fell asleep about four or five times while watching the news just now. I was a bit tired, but after forwarding two news articles in a row and analyzing the issue of cryptocurrency insurance, I found that I was not tired at all. Indeed, the code word could revive me with full health. Today, the mood is still bad. There are many reasons, and it is difficult to give a very accurate explanation. But what can be determined is that the macro monetary policy and the economic prospects of the United States account for the main reason, and there are too many reasons that affect monetary policy. The Russia-Ukraine conflict is yes, the tariff problem is yes, the debt ceiling is yes, and the inflation and unemployment rate are even more. This is a bit like what was said before, drinking cold water is all toothless. But is the situation really that bad? I don't even think so. Nowadays, many of them are market expectations, and in fact, the Federal Reserve has given a clear attitude, but the market insists on proving the Fed wrong. Interestingly, since the Fed announced interest rate hikes in 2022, the game between the market and the Fed has never won. Every time, the Fed wins, after all, they have the right to speak, and the final decision is not based on market expectations, but on the Fed. This reminds me of a former leader who once said, 'Don't always think that what you think is wrong every day.' This is the game between the Federal Reserve and the market. The Fed told the market that they expect to cut interest rates twice in 2025, but the market said, 'I don't believe it. I bet you will cut interest rates more times.'. On the other hand, I know many small partners are very concerned about whether it is a bull market or a bear market, but it doesn't really matter what it is. At present, the biggest situation is that the economy is in a tight situation at the macro level. Although it has begun to move towards easing, the process of transfer will be very slow, so there is a big gap in liquidity between BTC and other cryptocurrencies. A small amount of capital is concentrated on BTC, just like the U.S. stocks are concentrated on the seven sisters, while other stocks and counterfeit currencies in the cryptocurrency industry are struggling. So is the US stock market a bull market? On the one hand, Nasdaq has been rising, reaching a historic high for the S&P, and on the other hand, high-quality enterprise stocks like Nike have fallen like dogs. Isn't it the same in the cryptocurrency industry? In fact, the bull market and bear market are not so important. After all, for Bitcoin, there are many good expectations for the future. Today, Citadel Securities, a traditional market maker, will join the market. It is said that it has received Trump's call. Is this good? Yes, but it is difficult to pull the market right away. Because the favorable policies on the policy side are often slow and sustained, I think there will be great opportunities for BTC, mainly due to compliance. But it's hard to say if it's a knockoff. Looking back at the data of BTC, the turnover rate is still very low, and most investors are still indifferent to the current price. Currently, the main participants in turnover are still short-term investors, and even short-term loss making investors have more turnover. At this point, I suddenly noticed that there have been fewer comments recently about BTC being a dog cutting leeks, which can be considered as progress. From a support perspective, although the price of Bitcoin continues to fluctuate downwards, the support level of $93000 to $98000 is still very strong, at least there are no signs of destruction at present, which also indicates that more investors do not feel much about short-term price changes. Sleep, try to restore the comment reply tomorrow. Thank you for your support. Data has been updated, address: https://docs. (google.com)/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit? usp=sharing This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex