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Bitcoin enters early 2026 with signs of stability, with prices oscillating between $85,000 and $94,000. Today’s opening price is up over 3%. According to market analysis agencies, the US dollar shows signs of structural weakening, with a decline of about 9% this year. Additionally, the US Treasury yield curve has steepened (the 2-year and 10-year spread is about 70 basis points), and these two factors may support a subsequent rebound in Bitcoin. Meanwhile, the selling pressure on spot ETFs has significantly eased, and market signals are relatively friendly. Investors should closely monitor the ongoing impact of macro policy changes on crypto assets.