#BTC何时破9万？ violently surged to a price of 90,000 in just a few days, at which point market bullish sentiment soared. The funding rate reached an astonishing 0.01%.

Market Situation: $BTC surged alone while others saw slight gains; the reason is simple, the capital volume of other cryptocurrencies is insufficient. Some say Bitcoin is controlled by institutions, so I want to express, will the fluctuations caused by the battles between institutions be large or small? If you are trading contracts, is it short or long?

Remember a few key positions: the price of Bitcoin's spot ETF at the time of listing was around 45,000, and the sideways trading period was between 50,000 and 74,000. The current highest price is at 90,000.

Monetary Policy:

The interest rate cut channel has begun, with 2 cuts so far and more room for future cuts.

The balance sheet reduction is still ongoing and has not ended, which also means that QE has not started. If you don’t understand, just consider balance sheet reduction as: closing the door, and QE as: waterproofing.

Sharing my operational views for your reference:

Long-term trend: Bullish without a doubt.

Short-term trend: Daily level shows a volume peak at the top, RSI is overbought.

Divergence has appeared at the hourly level; if divergence appears at the four-hour level, it will be more stable.

There are already reasons to be bearish, but remember, it must be a short-term bearish position; do not fight against the trend. As for when to enter the market, it depends on the individual's risk tolerance and goals.

My reason for shorting is solely to balance the profit pullback from the spot $DYDX .

Assuming 90,000 is a temporary top, the pullback position looks at whether the previous high of 74,000 will be tested (personally, I feel that if there is no black swan event, it is unlikely to retrace to this level).

In summary, considering the above factors, decide when to open positions based on personal goals and risk management capabilities.