Last night, the overall market volatility increased significantly, with a sharp pullback during the session, but then liquidity absorption was strong, and it eventually stabilized. As of now, the overall market remains in a volatile but slightly bullish rhythm.

This market move is mainly due to several reasons.

First, the biggest bearish factor in the market has basically been digested. Strategy historically sold 3,588 BTC, breaking the market's long-standing expectation of "only buying, not selling." After the news was announced, it indeed triggered some panic. However, multiple Wall Street institutions later believed that this pullback was more of a healthy correction and an opportunity for medium- to long-term capital deployment, which gradually stabilized market sentiment.

Second, institutional capital continues to flow in. American Bitcoin newly purchased 500 BTC, and Empery Digital accumulated an additional approximately 1,200 BTC over 6 days. Listed companies continuously buying with real money also indicates that many institutions still have a positive outlook on Bitcoin's future performance. Additionally, Trump has recently expressed public support for the crypto industry multiple times, further boosting market confidence.