The US non-farm payroll data came in below expectations, coupled with an expanding trade deficit, leading to increased risk aversion in the market recently. From the 8-hour chart of Bitcoin, it is currently in a critical consolidation phase.

The recent trading days' movements are worth noting: last night, a long position was placed around 90188, which was subsequently broken upward for a total profit of approximately 2000 USDT; during the early trading session, a quick switch to a short position around 92400 also yielded a profit of 2000 USDT; currently, a long position is being re-entered around 90388.

From a technical perspective, Bitcoin repeatedly tests this price range, indicating a balance of buying and selling forces. Short-term traders should closely monitor the movements of US Treasury yields and the US dollar index—these macro factors are deeply impacting liquidity in the crypto market. It is recommended to focus on the key levels of breaking above 92500 and falling below 89500, as these will determine the main trend direction moving forward.