#数字资产市场动态 Bitcoin experienced significant price pressure over the past 24 hours. According to real-time data, this decline was mainly driven by the escalation of trade tensions between the US and Europe and the resulting risk-off sentiment. But upon closer inspection, the market is not entirely pessimistic.

From a macro perspective, geopolitical tensions indeed delivered a blow — over $874 million in contract positions were forcibly liquidated, reflecting panic selling in the market. However, the key point is that institutional actions are quite the opposite. The US spot Bitcoin ETF has attracted $1.42 billion in inflows this week, the best performance since October. Major institutions are quietly accumulating at lower levels, indicating a gradually forming consensus at the bottom.

There are also interesting signals from the technical side. Yes, the short-term moving averages are still below the long-term ones, and the price has broken below the middle band of the Bollinger Bands, which looks very bearish. But the Relative Strength Index (RSI) has already entered the oversold zone, and historical data shows that this is often the eve of a rebound. The market momentum is consolidating, not heading straight into a bear trend.

The actions of trading platforms are also worth noting. Recently, mainstream platforms have launched new trading pairs and introduced zero-fee trading promotions, which will undoubtedly attract more trading volume and make market access easier for users.

Fundamentally, there is indeed a net outflow of capital, and the selling pressure from large trades has not dissipated — this is a risk. In the short term, bearish signals still flicker. But if we zoom out, the combined signals of institutional accumulation, continuous net inflows into ETFs, and the oversold technical conditions suggest that a short-term rebound is quite possible. Discussions about price declines are heated in the community; some blame trade friction and forced liquidations, while others emphasize the resilience of large holders. This divergence precisely indicates that the market is competing for pricing power.