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Bitcoin's recent market movement has indeed been quite fierce. Yesterday, it surged directly to $97,000, just a hair's breadth away from the $100,000 mark. In the short term, the momentum is very strong. From a technical analysis perspective, the long-term moving average groups are contracting, indicating that confidence among long-term investors is gradually recovering. Meanwhile, the short-term moving averages are diverging upwards, clearly signaling a bottoming pattern. Based on this trajectory, breaking through the 200-day moving average within the next month should not be an issue, and the probability of re-establishing above $100,000 is quite high. At that point, a new wave of market cycles may begin.
The underlying logic behind this is actually not hard to understand. Bitcoin is essentially a tool to hedge against global economic risks. It is closely linked to USD liquidity, fiat currency confidence, and global economic fluctuations. Once the Federal Reserve initiates a rate-cutting cycle and its balance sheet begins expanding, expectations of liquidity easing will strengthen. This creates fertile ground for Bitcoin to surge from $100,000 to $150,000 or even higher. Currently, there are several catalysts in the policy environment—such as the new leadership's attitude towards liquidity and the Federal Reserve's policy stance—that could accelerate this process. In simple terms, liquidity expansion is the real driving force behind Bitcoin's strength this year.
As for NFTs, although their popularity has waned quite a bit over the past two years, many people have misunderstood them. NFTs have not disappeared; they are simply undergoing a normal consolidation phase during the bear market cycle. As non-fungible tokens, their application scenarios are far broader than what fungible assets can imagine, and their long-term potential remains enormous. The current market lull is just a cyclical natural adjustment phase, not the end. Many new projects are quietly accumulating energy, waiting for the next explosive opportunity.