#BTC Next week’s focus: the Bitcoin Conference. Looking back at past conferences, the trend has always been weakness—within the circle, it’s known as the “Bitcoin Conference curse.” Over the past five years, during conference periods, there has almost been a “every time there’s a conference, it falls” pattern, forming a textbook-style decline. And in the weeks before that, it usually first rallies. Once the conference opens, it paradoxically becomes the starting point for taking profits. So this time—will the curse continue, or will it be broken?

① Continue the conference curse: right now, both the funding rate and open interest are climbing. The market feels somewhat crowded. If it doesn’t break 8, it’s easy to trigger a chain reaction of liquidations, which may drag it toward the 6.8 area. ② Break the conference curse: institutions keep moving in. The Strategy cost basis is around 755. BlackRock is around 8.8. As for institutions, it’s inevitable they won’t go on smashing it downward like that. Also, the safe-haven funds created by gold’s “spillover” may return to this market, and altcoin funds may concentrate into BTC. So this is the most likely time to break the curse. #加密市场行情震荡