#比特币大会# This conference may bring about short-term emotional speculation; if Vance announces a Bitcoin reserve plan or regulatory easing, it could bring substantial favourable information for buying, potentially pushing BTC to stabilize at the $110,000 resistance level. Conversely, if it only remains at the level of slogans, it may trigger a short-term pullback due to fully priced-in good news.

The discussions about Bitcoin ETFs by institutions such as BlackRock and Grayscale may attract more traditional capital inflow. Last week, the net inflow into ETFs was 2.75 billion USD, and institutional funds are accelerating their inflow, which may further strengthen this trend.
Overall, under the spotlight of Las Vegas, Bitcoin is jumping from "marginal innovation" to the stage of "core policy."
Vance's speech could become a milestone event in the history of cryptocurrency.
BTC is facing certain resistance near 112,000. In extreme cases, if a sharp drop occurs, testing the support between 100,000 and 105,000 cannot be ruled out. However, overall, the market still appears relatively healthy, and the prevailing sentiment remains bullish on dips. We just need to continue enjoying the trend brought by digital gold while ensuring proper risk management.