Bitcoin has recently maintained its elevated levels, with market sentiment gradually warming up. After earlier volatility, the market has progressively stabilized, with short-term consolidation in a range. Trading activity has picked up somewhat, though the overall pace is slower compared to earlier periods.

On the funding front, there continues to be a flow-in trend, with significantly increased allocation demand for mainstream coins, providing strong support for prices and allowing the market to maintain resilience amid fluctuations. However, macroeconomic uncertainty persists, with capital rotating and rebalancing across different assets, causing market structure adjustments. Consequently, Bitcoin is currently mainly showing range-bound equilibrium trends with no clear directional bias.

From a technical perspective, prices are at a critical range with notable resistance and support levels both above and below, making short-term repeated fluctuations the most likely scenario. Overall, the market is transitioning from earlier violent swings to a rhythm adjustment phase, with rapid movements gradually converging into a period of observation and repricing. Subsequent price action will require further confirmation based on capital flows and structural changes.$BTC $ETH #以太坊L2叙事再升级