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Bitcoin is currently holding steady above the 90,000 level and has not entered the danger zone of garbage time.
From a chip perspective, short-term positions in the 83,300-87,000 range have gradually shifted to the right, now mainly concentrated between 89,600-92,000. Although there have been pullbacks and fluctuations during this process, the key support has always held at 90,000, indicating that there is still buying support in the market.
Next, we need to closely watch two major events: non-farm payroll data and tariff rulings, which are about to arrive. This will be one of the most intense trading days in the past 26 years. Additionally, with the upcoming statements from the new Federal Reserve Chair within the month, the macro environment is highly uncertain. In the short term, it is recommended to focus on whether 90,000 can be effectively defended, as this will be crucial in determining the subsequent direction.