In a rare "triple kill" situation in which U.S. stocks, U.S. bonds, and the U.S. dollar fell simultaneously, the U.S. dollar was collectively sold, and the U.S. dollar index continued to hit a new low, directly falling below 98, and Bitcoin rose. The euro rose directly by 2%, the dollar against the yen once fell below the 140-point mark, and gold tested the peak of the all-time high of 3,500 an ounce. In fact, today's rise in the crypto market is directly related to the dollar index.

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The highest point of Bitcoin's current price is at 88862, and it is still in a phase of consolidation at a high level. However, both S&P and Nasdaq futures in the U.S. stock market have fallen by more than 1%, and U.S. Treasury yields are also rising, indicating that the traditional market is still concerned about economic issues. The Federal Reserve has not yet relented, and monetary policy remains tight, with interest rates still at a high level. Ultimately, the policy path is a dilemma; if interest rates are lowered prematurely, it will reinforce market expectations that "the economy has already entered recession"; if rates are not lowered, it means that the liquidity environment remains tight. Therefore, the market is temporarily unlikely to see a comprehensive trend reversal, and in the short term, it still belongs to a phase of structural repair, combined with waiting for data to come in. The true directional signal may only become clearer after the U.S. GDP data and economic guidance at the end of this month!
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From the perspective of the current short-term market, the overall trend has reached a peak after a steady rise and is now undergoing a correction. The daily chart has entered a phase of adjustment and correction. However, the overall technical structure has not changed significantly. Although the coin price has shown slight retracements throughout the day, it has not had a major impact on the overall market situation and has not broken the recent upward trend. The current retracement has not led to any substantial breakdown; since the downward movement could not be extended, the falling trend is expected to continue, as the overall situation still remains in an upward trend in recent times. The current retracement is merely an adjustment action; the higher it goes, the weaker the adjustment momentum becomes, resulting in a larger upward amplitude. The operation should still focus on buying low.