Today, Bitcoin ($BTC) hit another recent high, especially with a strong breakout above the previous resistance level of 83-84k. Right now, it’s continuing its upward momentum, and judging by the structural pattern, breaking through 90k seems like just a matter of time. It’ll probably pause and consolidate around the psychological barrier of 100k. This rebound and rally that started over the weekend might be related to the easing tensions in the Middle East. After all, other markets were closed over the weekend and couldn’t quickly reflect the shift in market sentiment. Bitcoin once again took on the role of risk discounting and value discovery. From a logical perspective, $BTC is riding the wave of falling oil prices → declining long-term interest rates → increased risk appetite. Additionally, when Bitcoin broke through 85,000 on Monday, over $648 million worth of Bitcoin short positions were liquidated, with the largest single liquidation event reaching $290 million. On Sunday, the weekly candle closed above the 50-week moving average for the first time in 45 weeks. Institutions often view this line as the dividing point between a bear market cycle and bull market expansion. Since this rally is based on the expectation of geopolitical easing that hasn’t fully materialized yet, the outcome of this week’s talks between the U.S. and Iran, and the U.S. and China, will be key. If the results fall short of expectations or the positive news is fully priced in, there’s still a chance of a pullback. However, if there’s genuine and substantial easing, then risk markets could climb even higher. @BITstocks_CN Buy U.S. stocks on BIT—10,000+ U.S. stocks and ETFs, real holdings, and enjoy dividend payouts.