Today’s early-morning big-pie outlook

**Operation:**
Long near 625-620
First target: 630-635
Second target: 640-650
Set a stop loss

Bearish news is digested in advance. With a three-way convergence of technical stabilization and a rebound in funds, a recovery rebound is set up after the Fed minutes land. After the concentrated release of selling pressure, bearish momentum weakens; short-term moving averages flatten, and oversold indicators recover. After the “second big-pie” ends its consecutive net outflow, it turns back to inflows, and institutional allocation interest increases. The market has fully priced in hawkish expectations. After the minutes are released—even if they’re slightly hawkish—downside room is limited. If they are not beyond expectations, a rebound may be triggered. The main risk is that the minutes come in unexpectedly more hawkish, or that a breakdown below key support triggers a stampede. Bias is upward. In terms of rhythm, respect uncertainty—there’s room to move forward and to retreat. $BTC #GUSD年化升至3.8%