This week's encryption market volatility may significantly increase, as three core factors are resonating.

1. The financial reports of tech giants are being released intensively, including those of Apple and Amazon, while the financial report of MicroStrategy (MSTR), which holds over 214,000 bitcoins, is particularly critical. Its holdings are highly correlated with the price of bitcoin, and the performance of the financial report will directly impact the market's confidence in the "institutional holding" model.
2. The U.S. economic data will face a dual test. The preliminary value of the U.S. GDP for the first quarter, released on Thursday, as well as the non-farm payroll data for April, published on Friday, will serve as important indicators for assessing economic trends. The market is particularly focused on whether the GDP growth rate falls below the three-year low of 0.4%, which could strengthen market expectations for a rate cut by the Federal Reserve. Historical experience shows that fluctuations in the dollar caused by economic data often exhibit a negative correlation with Bitcoin prices.
3. Technical analysis is facing a directional choice. Bitcoin has been fluctuating in the range of 92000-96000 USD recently, with trading volume significantly shrinking, indicating a strong market wait-and-see sentiment. The technical aspect presents two key signals:
If the weekly level can break through the resistance level of 96,000 USD, it is expected to hit the psychological barrier of 100,000 USD; however, if it falls below the support level of 92,000 USD, it may face short-term correction pressure.
Ethereum is also at a critical juncture, with fluctuations in the range of $1750 to $1835 before potentially choosing a direction. The technical pattern indicates that if it can break through the current range, it may challenge the important resistance level of $2100.