According to the CME The Federal Reserve (FED) watch tool data, the probability of a rate cut in June is only 8.6%, in July it is 30.8%, and it rises to 51.3% in September. The market generally expects that a rate cut may only occur in September.

From the trading situation of Bitcoin, as the price rises, the turnover rate is also on the rise. In recent days, short-term investors who have been bottom-fishing have significantly reduced their holdings, becoming the main force in the current sell-off, while early investors' positions remain relatively stable.
From the perspective of Bitcoin's chip distribution, $102,000 is the short-term support level, with 1.4 million Bitcoins accumulated in the range of $100,500 - $105,000, mostly held by short-term investors.
According to the spot ETF data, Bitcoin spot ETFs saw a net inflow of $667 million yesterday, marking four consecutive days of net inflows. This indicates that institutions are still bottom-fishing for Bitcoin, which has a certain uplifting effect on Bitcoin's short-term price. Overall, Bitcoin's short-term upward momentum is strong, and the contract open interest has reached an all-time high. Is $110,000 still far away?