Recently, Bitcoin has been a bit weak. On January 8th, it dropped 2.96% in a single day, directly falling below $91,000, with a fierce tug-of-war between bulls and bears within 24 hours. Although it briefly recovered above $90,000 earlier, to be honest, this rebound is not very stable.

Looking at institutional actions, it’s clear that their holding attitudes are very cautious, and the long-term demand in the futures market is even more sluggish. The current adjustment is actually driven by complex factors: macroeconomic data, Federal Reserve policy expectations, and the correlated impact of the US stock market are all at play. The market is now in a phase of correction after a high-level oscillation, with investors mostly waiting and a very cautious atmosphere.