Early this morning, Old Bao maintained interest rates as scheduled, and the rate cut is also temporarily off the table, directly pouring cold water on the market’s rebound. Coupled with the recent increasing tension in geopolitical situations, investors are seeking stability, and all funds are flowing into safe-haven assets like gold. With no one pushing the market, it naturally cannot rise.
From a technical perspective, the overall trend is currently downward.
$BTC Bitcoin cannot break through the daily resistance level, short-term gains are weak, and it’s about to hit the support at 88,200.