BTC： As of March 19, 2025, the current price of Bitcoin is $83100; On a daily basis, a "spindle line" was closed yesterday, with average volume performance, indicating that the market's long and short forces are temporarily approaching balance. In terms of on chain data, there has been no significant increase in turnover rate. The chip intensive area between $93000 and $97000 remains stable, with limited selling pressure. Currently, turnover mostly comes from loss making players, reflecting market risk aversion. Combined with the net inflow of 2490 US spot Bitcoin ETFs (worth $209 million) yesterday, there is still some support in terms of funds. At the macro level, the Fed's 02:00 meeting on the 20th is a key variable, and market concerns about hawkish expectations may continue to suppress risk assets. Overall, Bitcoin may fluctuate within the range of $81000-85000 in the short term. If the conference releases a moderate signal, Bitcoin is expected to experience a oversold rebound; On the contrary, downside risks will intensify.