Bitcoin's recent trend is indeed quite interesting. On one hand, from a macro perspective, the possibility of the Federal Reserve cutting interest rates and the expectations of liquidity policies are supporting scarce assets including BTC. Many analysts are even discussing whether a new super cycle is about to begin. Even more intriguing is the large transfer of Bitcoin to well-known market makers, which hints that institutional funds may be quietly accumulating to deepen market liquidity.

However, the short-term outlook isn't as optimistic. Although whales seem confident in accumulating coins, the selling pressure from profit-taking positions in the market is quite evident. From a technical standpoint, the price has been oscillating within a downward channel, with insufficient rebound strength, indicating that bullish momentum is actually waning. This kind of structure often signals that the downtrend may continue. Coupled with high volatility, once the bullish energy is exhausted, further pullbacks are likely to occur.

Currently, the situation resembles a tug-of-war between bulls and bears, with neither side able to take the initiative. For investors, this is a critical time to carefully observe market structure and capital flows, especially to guard against rapid short-term fluctuations.

**Quick Technical Overview:**

The current price is hovering around 87397.6 USDT. Looking downward, the 86536.0 level is a nearby support, which can be considered as a reference for positioning. The support zone below is between 86355.0 and 87872.6.

Looking upward, 89600.0 is a clear resistance level (about 2.69% on the 1-hour chart), with resistance zone between 87450.0 and 89600.0.

From a trading perspective, when approaching support levels, consider placing buy orders; if the support is broken, stop-loss should be applied promptly. In this rhythm, being flexible and adaptive is more realistic than sticking rigidly to a bullish or bearish outlook.