Today's homework, although not difficult to write, is particularly exhausting. This is mainly due to the numerous events today, particularly Trump's speech at the bill signing ceremony. I didn't expect him to be so articulate; he covered a lot of topics, including trade relations with China, expressing optimism about reaching a consensus soon. He also mentioned his grievances with Musk, suggesting that Musk ultimately still likes him, and discussed issues in the Middle East, even taking a jab at Powell.

In addition to Trump's speech, PPI data was released today, which was still better than expected, providing a slight boost to market sentiment. However, these data points do not significantly aid monetary policy as tariffs have not yet fully materialized. The implementation of tariffs may still face hurdles, as Bessent hinted today that the suspension period for tariffs might be extended.

Overall, the focus of the recent decline in the early hours of today was on geopolitical conflicts, which remain unresolved. However, the market has begun to anticipate these developments. Today's positive news regarding China-U.S. trade and PPI, as well as the potential reconciliation between Trump and Musk, are all signals that could drive the market's turnaround. Currently, the sentiment in the long-short battle is still quite intense, so it’s best to be cautious. With so many events erupting simultaneously, it is the hardest to judge the direction; it might be better to wait and see.

Looking at Bitcoin data, there has been a significant amount of turnover in the last 24 hours. Due to the complexity of the information, there are noticeable signs of both profit-taking and loss-taking investors exiting the market, especially among those with short-term losses. However, the overall changes are not substantial, and we need to wait for further developments in the situation. Currently, the market has not seen any favorable or unfavorable news that could change the dynamics.

$93,000 to $98,000 remains the most stable support level right now, with low price volatility, hardly touching this range. The range between $100,000 and $105,000 is not considered stable; if an event occurs, there will be noticeable turnover, putting slightly more pressure on the price.

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