Today, the biggest event should be the sale of the ancient giant whale. This time it was a real sell-off, with a portion even being dumped through exchanges, which led to a temporary drop in the price of $BTC, reaching a low of around $114,600. In less than 24 hours, Galaxy Digital has completed the sale of over 80,000 Bitcoins for this investor from the Satoshi Nakamoto era, worth over $9 billion.

Although this caused a price drop, after watching Trump's speech, it felt like he and Powell reconciled a lot during their meeting. Trump believes they have reached some consensus with Powell, and it's rare that he didn't continue to criticize Powell. Progress on tariffs is also good; currently, only Canada and China have not fully reached an agreement, while negotiations with the EU are progressing well.

Overall, this has not changed the current market environment. U.S. stocks saw slight increases in pre-market and after-hours trading today. A comprehensive assessment shows that there is currently no systemic risk, and I personally started going long this morning. As of now, the price has rebounded to above $117,000.

Looking back at Bitcoin's data, there has indeed been some panic among investors today, with a significant increase in turnover rate. Investors with a holding cost above $100,000 are the hardest hit, while those above $110,000 are the main force behind the sell-off. Earlier investors have also experienced some fluctuations, but the impact is not significant.

It is worth noting the two gaps in URPD that have been mentioned before. One is at $112,000, which has not yet been filled, but the other gap at $114,000 has been filled. It has been previously stated that gaps in URPD have never gone unfilled in history; it's just a matter of time. However, the CME gap has also not been filled yet.

There have been no issues with support levels. Currently, both support levels seem stable. Tomorrow is the weekend, and the price rebound helps stabilize investor sentiment during liquidity periods.

Data address: https://docs.google.com/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit?usp=sharing

This article is sponsored by #Bitget ｜ @Bitget_zh

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