Bitcoin is entering a critical decision period in the short term. The 60,500 level is seeing repeated tug-of-war between longs and shorts, with resistance above and weak support below. 61,600 is the lifeline for both sides; if it cannot hold steady, any reversal is just empty talk.

Institutional operations are polarizing: on one side, leveraged shorts are fishing in troubled waters; on the other, they are firmly holding their chips and not giving an inch. Although the underlying logic and scarcity of "digital gold" remain unchanged, market sentiment has become extremely fractured. The best strategy now is to wait for a breakout, and avoid blindly chasing gains or selling off.