New Fire Research Institute: Bitcoin stabilizes at 80000 mark, market analysis officially shifts from "high cost-effectiveness" to "cost-effectiveness" range According to Foresight News, the New Fire Research Institute released a market analysis stating that Bitcoin has effectively stabilized at a key position of $77000 in early May and surpassed $80000, setting a new three-month high. This trend validates the continuous reminder from Xinhuo Research Institute about the "high cost-effectiveness range" since February this year. Based on this, Xinhuo Research Institute has officially upgraded the Bitcoin market from the "high cost-effectiveness range" to the "cost-effectiveness range", indicating that the market has shifted from "oversold repair" to "trend confirmation". The aftershocks of the geopolitical situation have not prevented the release of institutional dividends. Despite frequent geopolitical conflicts at the macro level, including the Iran missile attack controversy and potential Israeli strikes, the cryptocurrency market is gradually becoming desensitized to such disturbances. The number of initial jobless claims in the United States in early April hit a new low since 2022 (189000), reflecting the resilient economic fundamentals. Although the probability of the year-end interest rate remaining unchanged is 50%, the breakthrough on the policy side has more long-term significance: the Clarity Act reached a compromise on the distribution of stablecoin profits, allowing companies to provide rewards but prohibiting idle balance interest calculation; The simplification of SEC disclosure requirements, combined with the active application of the New York Stock Exchange for tokenized securities trading, have jointly built a compliant institutional firewall. The institutional game has entered a deep-water zone, and the market structure is being reshaped. Industry data indicators show that the current market sentiment is not yet overheated, and institutions are building defensive positions through "structural holdings". The New Fire Research Institute has determined that the current panic and greed index remains stable in the neutral range, and the negative rate of perpetual contracts indicates that the market has not yet entered an overheated stage. Although Strategy has raised $11.68 billion and is facing pressure to repay interest, its mNav indicator remains stable at 1.0; The Canadian sovereign fund's first disclosure of holdings in its stocks sends a strong institutional entry signal. With the market value of RWA exceeding US $19.3 billion, stable currency and token treasury bond have essentially evolved into the underlying infrastructure of the global financial system. Xinhuo Group believes that as long as the market can stabilize above the daily MA200, the "cost-effectiveness market" driven by RWA and compliant stablecoins will continue to deepen.