The market trend was good over the weekend. Although it did not sprint to 7w as I expected, the price of Bitcoin remained above 6w7 for most of the time. It reached 67700 at its highest and then encountered strong pressure. It did not rush up because the main force did not make much action over the weekend. The institutions chose to rest over the weekend. The market was basically dominated by retail investors.

Why do I expect a rush to 7w in the near future? In fact, my confidence comes from the continuous inflow of funds in the Bitcoin ETF in the last five working days, and the inflow of funds from Wednesday to Friday last week was 300 million, 250 million and 220 million. This should be the extreme value of inflow for three consecutive days since the spot ETF was listed. It basically shows that American institutional investors have great interest in building positions in Bitcoin. The reason why the strong market did not break out of the impact of 7w over the weekend was not only because the main force rested, but also because the Iranian president fell. The opportunity also caused the market to have a risk-averse sentiment. We all know that the recent currency market is very sensitive, and Iran is the protagonist of the Iran-Israel conflict some time ago. In addition, Iran is also the big brother behind Hamas, which is fighting Israel. So at this time, even if it is a real accident, it may become a reason for the escalation of the war. Although the probability is not high, capital needs to take risk-averse actions. This is the main reason why the big cake fell sharply from the high point of 67,700 to below 66,000 last night. However, the market has been slowly repaired during the day today. Although the death of the Iranian president has been confirmed, it is indeed an accident from media reports alone and will not cause conflict. Moreover, the actual boss of Iran is not the president but the supreme leader. I personally think that this time conflict will not continue to expand its destructive power on the financial market. In the follow-up trend, I think as long as the ETF can continue to maintain capital inflows this week, the big cake still has the possibility of hitting 7w.