BTC: As of July 22, 2025, the current price of BTC is $118000; Yesterday, the closing pattern at a relatively short-term high was a "cross line", indicating fierce competition between long and short sides, with increased trading volume but slightly insufficient momentum from multiple parties. Technical indicators suggest that there may be downward pressure in the short term. On chain data showed a net outflow of 1121 US spot Bitcoin ETFs (approximately $131 million) yesterday, reflecting the short-term selling behavior of institutional funds. Trading volume and turnover rate slightly increased, and some players chose to take profits, but did not significantly shake the overall trend. According to URPD data, the first strong support level is between $103500-108500, and the second strong support level is between $93500-98500. At the macro level, there were no significant economic data releases this week, and the market lacked external drivers. The trend was more influenced by technical factors and market sentiment. Overall, there is a gap in Bitcoin between $112000 and $114000, and there is still a possibility of filling the gap before Bitcoin breaks through historical highs again in the short term. The current market sentiment has not reached a frenzy state, and the pressure is relatively light. It is more like a short-term recovery after a surge, and there is a high probability that it will regain its upward momentum after adjustment. Self confidence.