Today's homework isn't too difficult. The two days of the weekend have been like this; given the low liquidity, the $BTC volatility hasn't been too large, which is already good, indicating that investor sentiment remains quite stable. Politically, the focus is still on the Russia-Ukraine conflict. On Monday, Trump will meet with Zelensky. Although Trump claims to have made significant breakthroughs with Putin, as mentioned yesterday, it is still highly likely that this is under the premise of Ukraine ceding land.

Today, Bitcoin reached a high of around $118,500. However, considering that next week, aside from the Jackson Hole annual meeting on Friday, there aren't any major events, the market's focus remains on the game between Trump and Powell. Therefore, I haven't closed my long position; I'll hold on and see. In fact, closing today would have been relatively safe, but I got a bit greedy.

Looking back at Bitcoin's data, the turnover rate is shockingly low, which is typical during a bear market. This indicates that BTC investors have returned to the situation we previously discussed, where they are reducing sell-offs. This helps stabilize BTC prices. I haven't noticed any overly pessimistic situations before the Jackson Hole meeting.

There's not much else to report. Support is very stable, and there's no need to consider short-term fluctuations. Additionally, the positions at $117,000 have exceeded 750,000 coins, which looks fine for now. I still believe that even if the market is forced to choose a direction, it will likely be after Friday.

This article is sponsored by #Bitget ｜ @Bitget_zh

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