Three, the BTC market continued the previous range-bound pattern. In yesterday's trading, both long and short sides fiercely competed at key price levels, but lacked sustained breakthroughs. The market fundamentals are frequently changing, but most influencing factors are limited.

During night trading, inflation pressures have risen slightly, but the Fed remains cautious and shows no signs of cutting interest rates. Officials continue to emphasize the uncertainty brought by tariff policies, indicating the need for more time to assess.

From a technical perspective, the bulls and bears are still in a tug of war, lacking a clear direction. Prices may experience a pullback after encountering resistance at high levels. Investors are advised to pay attention to the resistance between 106,100 and 106,500, while also keeping an eye on the potential support near 103,200.

In the current market environment, investors should remain vigilant and closely monitor macroeconomic indicators and regulatory trends. In addition, Powell is about to deliver the semi-annual monetary coin policy testimony, which may bring new guidance to the market.

Despite the short-term uncertainty in the market, the long-term outlook for the overall development of the cryptocurrency market is still promising. Investors should rationally view market fluctuations, control risks reasonably, and seize potential investment opportunities.