Late-night market monitoring always makes the heart race, especially in recent days. Yesterday morning, I saw Bitcoin surge directly to $93,359, and my palms started sweating—not out of joy, but recalling the experience a few days ago when it almost got washed out at the 90,000 level.

The voices in the group are quite interesting. The day before yesterday, some were lamenting "no more rebound," and someone even posted a stop-loss order. But today at the open, Bitcoin shot up like a slap in the face, with intraday volatility exceeding 2000 points and trading volume surging by 25%. During the early morning dip back to 90,800, I also wavered and considered reducing my position.

**The market itself is speaking**

As of January 5th, Bitcoin has stabilized above $91,000 and even launched an assault on $93,000. Even more interesting is the formation of a classic strong structure of "higher highs and higher lows"—each correction is higher than the last.

Changes in capital flow are worth noting. Spot ETF inflows have continued over the past few days, with total trading volume surpassing $2 trillion. Whale addresses haven't been idle either; in the past week, they have increased their holdings by about 32,000 BTC.

The Fear and Greed Index rebounded from 20 to 28-29, still in the fear zone but the highest in three weeks. Market sentiment is slowly recovering, and this is no small matter.

We are easily confused by short-term fluctuations. Yesterday’s two spikes to 91,589 and 91,779 created quite a bit of panic. But if we extend the timeline, these are just routine corrections in a bull market.