Bitcoin's purchasing power has cooled down and significantly decreased. Is the next step $60000 or $40000?? After Bitcoin did not stabilize at $82000 and fell below $76000, many investors were very pessimistic about the future. They saw $60000 within the month and $40000 in the second half of the year. If viewed purely from a data perspective, there was indeed a significant pullback in funds compared to the previous week. Of course, although it is a pullback, the purchasing power has significantly decreased compared to last week, but it is still in a net buying state and has not yet entered a comprehensive selling phase. This indicates that investors have doubts about the future trend and are not willing to maintain high capital buying. What is the reason for this situation? Is it because they didn't stand firm at $82000? At least personally, I don't think so. From the data on the amount of funds, it is evident that this decline was mainly caused by the geopolitical conflict between the United States and Iran, which led to panic selling among investors. Even when the price of BTC was about to fall below $60000, the selling did not completely end. The reversal is due to the ceasefire between the United States and Iran, and investors believe that the market will turn around. Indeed, there has been a significant rise in the US stock market, with both the S&P and Nasdaq breaking historical highs during this process. This has led some investors to speculate that there is still room for Bitcoin to rise, which is the main reason. And when the United States and Iran continue to be in a stalemate, and CPI and PPI are both rising, inflation expectations are rising, and interest rate cut expectations are decreasing, the US stock market is falling. Therefore, it is very normal for Bitcoin to fall and investors to slow down their buying. Personally, I think this has nothing to do with whether BTC is stable at $82000. If it suddenly spreads tomorrow that the United States and Iran have reached a complete ceasefire agreement and Iran has opened the Strait of Hormuz, then I believe there is a high probability that both the US stock market and BTC will rebound. So I am not against the possibility of Bitcoin going down, but rather about the reasons behind the downturn and whether it will necessarily continue to fall like this. Of course, if the United States and Iran continue to maintain a confrontational situation and the Strait of Hormuz continues to be blocked, it may indeed trigger a chain reaction between the US stock market and Bitcoin. But from my current perspective, neither the United States nor Iran is willing to return to a state of fire. The hardline stance of the United States and Iran may not necessarily mean that they really want to start fighting again, but rather a bargaining chip in negotiations. Therefore, I believe that unless the war escalates again, causing inflation to rise, or if the United States experiences more serious economic or political problems. Otherwise, the probability of a significant decline in a short period of time is not high. Bitget is here, VIP! Crypto、 US shares CFD， Global Advantage One Stop Layout