Market pricing mismatch, BTC is in the stage of liquidity redistribution

The increase in ceasefire signals in the market has led to a decline in demand for safe haven US dollars, but the United States has expanded its energy and shipping blockade on Iran, intensifying supply restrictions and preventing the energy market from easing. The US dollar weakened due to risk appetite repair, resulting in a mismatch between safe haven assets and commodity pricing. The Federal Reserve maintains a tight tone, market expectations of interest rate cuts are compressed, and high long-term interest rates and warnings of demand risk for US bonds weaken the support for the US dollar. The BTC price has been tested multiple times and has not stabilized above 75000 yuan. There is high-density clearing pressure in the 76000 yuan area, and liquidity absorption has formed in the range of 72000 to 73000 yuan. Funds have shifted to high-frequency reallocation within the range, and the market has constructed a new center. Short term fluctuations depend on the reallocation of funds between safe haven assets, energy commodities, and risk assets.