Last night’s round of initial decline followed by a rebound is essentially more like a “funds allocation” process—washing out uncommitted positions while also releasing a mildly bullish signal to the outside, guiding sentiment to enter and take the bag.

Recently, many people have been focusing on Trump’s actions in the Middle East, but one thing needs to be clearly seen: Trump’s core objective has always been to stabilize the U.S. stock market, not to endorse the crypto market. On the other hand, the strong performance of the U.S. stock market does not necessarily mean the crypto market is moving up in sync; the two have different funding characteristics and driving logic, and they are not in the same equation.

From a technical perspective, last night’s price did in fact drop below 73,600 and dipped to around the 73,200 area, conducting a relatively hard test of the buy orders below; but then it snapped back and returned above 73,600, so on the surface it looks like it is still staying within an upward channel.

But the problem is that
the “funding fee” (funding rate) I mentioned earlier has already completed its adjustment overnight, and this often implies a subtle change in the long-short structure. When you add Friday as a time node on top of that, it easily becomes a window for funds to “plant mines.”

So this leg of price action is more like “fake strength,” not a trend reversal.

My thinking remains unchanged:
Maintain a bearish outlook, don’t chase longs.

In terms of execution:
Around 75,000, consider entering short positions or opening 2 positions, with a stop loss at 76,200 and a target looking down for an effective breakdown below 73,200.

One core summary in a single line:
A bullish-leaning pattern ≠ a structural shift to bullish; the probability of an emotion-driven bull trap is higher#GatePreIPOs首发SpaceX #GatePreIPOs首发SpaceX $BTC