#加密市场观察 The short-term market will focus on two key variables: first, whether the capital flow of Bitcoin ETF can shift from net outflow to net inflow; second, whether Federal Reserve Chair Powell's policy statements signal a dovish stance. In terms of operations, the short-term approach should mainly be range-bound oscillation, with medium-term waiting for trend confirmation. Avoid blindly bottom-fishing or chasing highs, with risk control as the core principle.

In the medium to long term, the crypto market is entering a new phase of “institution-led, structural differentiation,” with the valuation logic of BTC and ETH gradually aligning with traditional assets. Macro policies and institutional capital flows are becoming the core influencing factors.
Investors need to adapt to the new characteristics of narrowing market volatility and extended trend cycles, discard short-term speculative thinking, focus on key support and resistance levels and capital signals, and flexibly adjust trading strategies.