Despite the high-profile promotion of bearish trends at Bitcoin 102600, and even after five consecutive days of writing, I have made many assumptions from various angles to support my short position. In fact, after reaching an all-time high, Bitcoin has experienced three significant drops, with the respective low points being: 92232, 92520, 95199.

During these three pullbacks, I created three 10x increases and one 16x increase, with the best performer rising from 70,000 dollars to 1,130,000 dollars. These figures can only indicate that the trend was correctly followed during this pullback; it does not necessarily mean that the bull market has truly ended, and no one dares to guarantee that the bull market has ended. Currently, at least 80% of institutions in the market are bullish on the bull market. Can our small boat really navigate the stormy seas? Let's first look at the following news updates:

Driven by Trump's policies, increased ETF inflows, and innovations in stablecoins, cryptocurrency is set to experience strong growth in 2025. Bitcoin breaking through 100,000 dollars may just be the beginning. Trump's choices regarding the U.S. Securities and Exchange Commission and his support for cryptocurrencies are shaping a more favorable market for digital assets. ETFs are opening doors for more investors, while stablecoins continue to evolve, driving the development of DeFi. Half true, half false, U.S. stock BTC spot has seen a net inflow of 4.19 since December 25, after being in an outflow state prior to that. I believe that a scale of 100 billion is already top-tier, and the situation with stablecoins is not optimistic either. The UK and Germany have recently made it clear that USDT and USDC have regulatory loopholes and do not meet the basic requirements for circulating currency. And so on... What you perceive as bullish news may just be what capitalists want you to see, raising doubts that this is a trap or groundwork for unloading.

Today's focus is on the delivery situation of BTC/ETH large holder options. Here’s a direction for everyone: short at 96658, add to the short at 97458, defend at 97856#加密市场调整 .