Recently, macro factors are indeed changing unpredictably. From the K-line perspective, if Bitcoin falls below the 85,000 support level, the next support is likely around the 80,000 mark. But to be honest, the market has already digested some of the rate hike expectations, and the real concern is whether the magnitude of the rate hike will exceed expectations and cause a stampede.

Currently, the funding rate remains positive, indicating that the bulls are still in the game and haven't all exited. The key issue is that once it breaks below 85,000, whether the 80,000 level can hold becomes a matter of life and death. The most terrifying part of macro events is this—sometimes technical analysis is useless; once the market enters an emotional stampede, even the strongest support levels are meaningless.

Regarding the AI infrastructure sector, I have to be honest: now every project wants to be associated with AI. Autonomous agents, payment settlements, identity verification—these are all high-sounding concepts wrapped up in fancy packaging. But the real question is—where is the actual implementation? How many users are there? Or is this just a carefully crafted PPT story?

Institutional endorsements can indeed boost a project's credibility, but raising funds from VCs is no longer that easy. The most critical question is: how much real money have these institutions invested? How long is the token lock-up period? Will they just dump and run in the future? These are all open questions.

Instead of blindly chasing hot topics, it's better to observe and wait. Once the actual product gains users and on-chain transaction data looks good, then decide whether to get in. Currently, this situation seems more like project teams playing a game of double-dealing; retail investors should not rush to buy in.