The market focus these days is on two things—whether the Federal Reserve will continue to cut interest rates, and how the tariffs-related policies will be implemented (the Supreme Court's ruling is also coming out soon). Compared to the euphoric atmosphere at the beginning of the year, everyone's mindset has clearly become more restrained, turning into a cautious optimism of "wait and see how the market moves before taking action."

From a market structure perspective, institutional players hold more influence, while retail investors are mostly observing from the sidelines. Interestingly, many industry insiders are discussing the possibility of Bitcoin reaching 100,000 to 150,000 USD by 2026. In other words, the current adjustment period is actually a window for large funds to quietly accumulate chips. Instead of following emotional fluctuations, it's better to calm down and wait for genuine market signals.