During the White House Crypto Week and the push for the stablecoin bill, BTC has broken its ATH reaching $123,000. If calculated with the previous Exchange Rate of USD, it has already approached 1 million RMB.

At the threshold of 1 million RMB, it is estimated that many muggle diamond hands will be exchanging, and breaking through the 120,000-150,000 USD mark will require a larger catalyst.

The short-term buying momentum for BTC is weakening (within weeks to 1 month).

1. After BTC ETF saw a net inflow of over 1 billion on two separate days last week, there was a slight net outflow this Monday.

2. OG miners sold 80,000 BTC in the OTC market last week, even if calculated at a 10% discount for 100,000, it is still an unexpected selling pressure of 8 billion, which is more than 30% higher than the highest net inflow of 6.4 billion for ETFs in a single month.

3. The JDT ETF that was previously anticipated at 2.5 billion has already built a position of 2 billion, and there will be no short-term deployment of the remaining bullets.

4. MicroStrategy has begun a new round of preferred stock issuance, raising approximately 500 million in funds.

5. Two flowers bloom in the altcoin market, with those cultured going to the US stock market to buy shells and deceive the overflow of liquidity, while the local amateurs directly drive the price up violently, always ready to sprinkle some on friends. The potential benefits of DeFi brought by stablecoins and Li Hua's series of calls have also raised everyone's expectations for the altcoin season and dispersed the purchasing power of BTC.

Waiting for a small pit.