The homework on Monday is not too difficult. As we discussed over the weekend, the biggest game today is still the trade negotiations between China and the United States. Today is the first day, and good progress has already been made. China has opened up a portion of its rare earth export resources, while Trump has authorized the easing of restrictions on the export of key technologies. Although the final results have not yet been announced, the market has already responded positively, and negotiations will continue tomorrow.

The dispute between Trump and Musk seems to have reached a temporary conclusion by Monday. Neither Musk nor Trump is entangled in their conflict anymore, but things may not be that simple. Although the Trump-Musk issue appears to be resolved, Trump has encountered new problems. His stance on illegal immigration has led to protests in Los Angeles, and Trump has directly ordered the National Guard to suppress the protests, resulting in many arrests.

In response, both the Mayor of Los Angeles and the Governor of California feel that Trump is making a mountain out of a molehill, especially since the deployment of the National Guard was done without the Governor's consent, which has led the Governor to sue Trump. Additionally, the California Attorney General has also filed a lawsuit against the federal government, and Trump's counterattack is to plan to arrest the Governor.

Indeed, Trump remains the most uncertain factor. So far, this unrest has not affected the market; both $BTC and the U.S. stock market are performing well. Even the downgraded Tesla has returned above $300, as investor sentiment remains positive due to the progress in U.S.-China relations.

Looking back at Bitcoin's data, although the price has surpassed $108,000, the turnover rate has not significantly increased, and even the trading volume has not shown a notable rise. This aligns with what we discussed earlier: the main factor driving the price increase is not an increase in purchasing power, but rather a reduction in selling investors. In fact, from the exchange inventory observed during the day, most investors still expect BTC to have a good future trend.

The current support levels remain unchanged, with $93,000 to $98,000 still being the best support range. Even if BTC's price continues to rise, it has not triggered a mass exit from this group of investors. As long as there is not much movement from investors at this level, it will be difficult for BTC's price to experience large-scale sell-offs in the absence of negative news.

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