Looking at BTC tonight, I’m still leaning towards a choppy and slightly weak trend. Over the past 24 hours, the external environment hasn’t been easy. First, after the U.S. inflation data was released, the market’s bets on a Fed rate cut this year were pushed down again, and U.S. Treasury yields rose. This isn’t exactly friendly for risk assets. On the other hand, the Middle East situation remains volatile. The latest negotiations didn’t succeed, and although Saudi Arabia restored part of the East-West pipeline capacity, the risks around the Strait of Hormuz haven’t fully subsided. Oil prices and risk-off sentiment are unlikely to cool down quickly. In the crypto space, there isn’t any strong new catalyst to boost BTC. It’s mostly following macro sentiment. The stabilization during the day shows there’s still support below, but if U.S. stocks and risk appetite continue to weaken tonight, BTC is likely to pull back first—it doesn’t seem like it’s ready for a strong upward breakout just yet. So my take is pretty straightforward: short-term bias is slightly bearish, but not a sudden major crash. It’s more like a weak consolidation after repeated moves at the high level. For BTC to turn stronger, we’d need to see macro risks ease up or clearer signals of aggressive buying from the market.