[BIT Official: Bitcoin is in a clearly oversold range, but cannot confirm the end of the downward trend] According to a report by Golden Finance, on April 10th, BIT Official released its weekly report stating that the announcement of the ceasefire has raised inflationary pressures, and the candidate for the Federal Reserve Chair is also in the stage of expected transition. Normally, these factors combined should have driven more significant market volatility, but the overall response of Bitcoin is still relatively limited. The phenomenon of multiple variables landing one after another, but the market response is flat, is worth paying attention to. From a geopolitical perspective, there is still significant uncertainty in the actual implementation of the ceasefire arrangement pushed by Trump. Iran's influence in the passage arrangements of the Strait of Hormuz remains strong, and the related shipping flow is significantly lower than normal levels. From a technical perspective, Bitcoin is already in a clearly oversold range, and some indicators are starting to show marginal recovery. But it is still too early to judge that the downward trend has ended based solely on these signals. In 2022, a similar oversold state lasted for several months, during which there were rebound signals, but ultimately failed to form an effective reversal. What is more worth paying attention to than whether the indicator rebounds is which price will trigger a market repricing, as well as the landing of two key events next week.