Bitcoin’s momentum over the past two days really has been strong. The short-term long structure has come back again, and our 65,000 short position was also stopped out.

This time, the escalation of the geopolitical conflict is reflected in the market as the bears being relatively weak. Even though fighting is raging, the price action doesn’t move at all—instead, it triggers a wave of a big pull higher. That’s because Iran issued a ceasefire statement yesterday for 10 days.

From a short-term perspective, Bitcoin really does still have the potential to surge upward, but you absolutely must not ignore the pressure at the macro level.

Many people see this move and start fantasizing about hitting 70,000. I believe that price level is very unrealistic in the short term.

The current macro main storyline is still the U.S.-Iran situation—the U.S. military is launching another round of strikes on targets related to Iran in the Strait of Hormuz. The risk premium in oil prices has spilled over, inflation pressure is spreading, and the Federal Reserve continues to face pressure to raise interest rates. This is bearish for all anti-fiat assets.

I think this wave of bullish sentiment will be released and end within a short time—meaning that in the short term, both BTC and ETH will top out.

Next, pay attention to whether the 67,000 level breaks through. If the funds can’t continue to strengthen at this price level, then that’s our new level to open shorts. #ETH突破1900美元