BTC： As of March 12, 2025, the current price of Bitcoin is $82500, and yesterday's daily level closed with a "medium bullish line" carrying volume and energy, indicating signs of a rebound in the market after filling the $76600 URPD gap. However, the net outflow of 4722 US spot Bitcoin ETFs worth approximately $371 million yesterday reflects the cautious attitude of institutional funds. From a technical perspective, after filling the URPD gap, historical data shows that prices often enter a consolidation stage, with a low probability of a short-term dip, but may rebound to above $83700 or face selling pressure. On a macro level, a 30 day ceasefire in Ukraine (announced today) may ease geopolitical tensions and inject liquidity into the market; However, the repetitiveness of Trump's tariff policies may exacerbate inflation expectations and limit upward space. Overall, I believe that BTC is currently in the stage of oversold rebound rather than trend reversal, and the bottom still needs further confirmation.