Good morning everyone~

Last night’s overall market was still relatively calm. The broader market didn’t break out into any big swings, but there were still plenty of news developments. What the market is focusing on remains centered on the Middle East situation and the Federal Reserve’s next policy steps.

First, the macro side:
The Middle East situation has not yet continued to deteriorate. While the U.S. and Iran still maintain a certain level of tension, some signals released recently have already eased compared with the previous few days. The market’s biggest concern right now is that the situation could escalate again. If a new military conflict occurs, safe-haven assets like gold and oil would likely react first. The crypto market and U.S. stocks would inevitably be affected as well, so this area still needs ongoing monitoring.

Federal Reserve:
The latest Beige Book shows that the U.S. economy is still maintaining moderate growth. There’s been no obvious deterioration in employment or consumption. This suggests that in the short term, the Federal Reserve will most likely continue to observe data rather than rush to adjust policy. Trump has also recently publicly urged the Fed to cut rates as soon as possible, but the final call will still depend on how the subsequent inflation and employment data perform.

Asia markets also had an unexpected piece of news yesterday afternoon. The Bank of Korea announced a rate hike, which came in above many market expectations. After the opening of the Korea-Japan stock markets, they were both affected to some extent, which also indicates that global capital is still quite sensitive to different countries’ monetary policies.

Now let’s look at the crypto market:
At present, Bitcoin is still ranging around the $65,000 area. While there hasn’t been a breakout with increased volume, the overall trend has stabilized noticeably more than it did a few days ago. As for capital, there are also signs of some improvement. In the most recent trading day, spot ETFs once again recorded net inflows. However, when you extend it to the most recent few trading days, overall capital remains cautious. There hasn’t been sustained reflow from institutions, so this is still essentially a range-bound repair phase.

By contrast, Ethereum has been clearly stronger recently. Many institutions and large holders are still continuously building positions in ETH, which has also helped activate a number of altcoins. Compared with the earlier period, market sentiment has definitely warmed up a lot.

As for U.S. stocks last night, the three major indices closed slightly higher with overall volatility staying limited. Tech stocks still show some differentiation in their performance. Capital remains more tilted toward leading companies with earnings support. Short-term risk appetite has recovered somewhat, but the chasing-at-the-top sentiment isn’t particularly strong.

From the order-book/price action perspective, in my view, Bitcoin is still holding a range-bound but bullish-leaning structure. If no new major negative catalyst emerges, the broader market still has room to continue testing higher. So I’m viewing the market as ranging but upward-leaning, with the operational plan being to enter after a pullback, with day trades for today.

Key short-term levels to watch:

BTC: Watch the resistance around $66,000. If it holds, there may be room to open upward again.

ETH: Watch the resistance around $2,000. Its current走势 is clearly stronger than the broader market, so it’s worth keeping a close focus.

SOL: Watch around $80. If it breaks out with volume, there’s still an opportunity to push higher.

Overall, market sentiment has improved compared with the past few days. But what truly drives the行情 is still the Middle East situation, so it’s important to keep monitoring it.
$BTC ‌$ETH ‌$SOL ‌