Summary of Bitcoin's trend this week (Follow me to receive reliable and practical investment ideas in the first place)

1. Price fluctuations: Bitcoin prices continued to rise this week, climbing from about $91,000 to nearly $97,000, setting a new stage high, and market sentiment tended to be optimistic. After a healthy short-term correction (a slight drop to $94,000), the price rebounded quickly.

2. Market drivers:

Macro factors: Rumors that Satoshi Nakamoto may serve as the chairman of the US SEC have triggered market expectations of more friendly cryptocurrency regulatory policies.

Institutional capital inflows: Block trades and institutional whale accounts have increased their holdings, such as users who bought $53.65 million worth of WBTC.

Market expectations: Analysts predict that Bitcoin may break through $100,000 before the end of the year, and this optimism has further driven market trading activities.

3. Technical analysis:

Bitcoin has broken through multiple resistance levels, and the current price is in a technical "price discovery stage", showing strong bullish signals.

Increased trading volume and continued expansion of open interest (reaching $45.13 billion) indicate active market trading.

Forecast for next week

1. Optimistic scenario: If the macroeconomic environment continues to support (such as looser regulatory policies or continued influx of institutional funds), Bitcoin is expected to sprint to the psychological barrier of $100,000. If this level is broken, it may trigger a new round of gains.

2. Potential risks:

Profit-taking pressure: The recent rapid price increase may cause short-term traders to sell at high levels, triggering a correction.

Macro policy uncertainty: If the rumors are not realized or market expectations are not met, prices may fall back to the $93,000-95,000 support area.

3. Key technical levels:

Support: $93,000 (last week's correction low), and $90,000 (stronger psychological support).

Resistance: $97,000 (previous high), if this level is broken, $100,000 will become the target.

Summary: In the short term, Bitcoin's trend may still be dominated by volatile increases, but investors need to be wary of market correction risks and are advised to pay close attention to changes in macroeconomic dynamics and institutional trading activities.