Around 10 a.m. Beijing time, U.S. President Trump signaled new policies for 2026. From a market perspective, such policy expectations often provide short-term stimulation to risk assets. If the market makers choose to cooperate, we might see a rally in the early Thursday trading session, but the Bank of Japan's interest rate decision on Friday could become a pressure point, potentially leading to a pullback.

Looking at BTC's trend, the most direct driving force still comes from the performance of the Nasdaq. Last night, after a low open, the Nasdaq showed a strong upward trend, providing some support for Bitcoin. From a technical standpoint, the weekly long liquidation level is at 85,200, the monthly long liquidation level is at 83,600, and the pain point for shorts has been pushed up to 91,000. To trigger a large-scale short squeeze, there needs to be sufficiently impactful news support.

It is worth noting that during the rebound after BTC dropped to 80,000 last time, trading volume showed a clear shrinking trend. This indicates that the participation in chasing highs is not high, and market sentiment remains cautious. In such an environment, genuine trading opportunities require patience. Looking ahead, 2026 could become a good opportunity for buying on dips.