Bitcoin has entered a critical moment this week, and whether it can break through the 960 level next week will directly determine the future trend.

The current variables mainly come from two aspects—US policy meetings and Japanese interest rate hikes. To be honest, the market has already priced in Japan’s rate hikes quite a bit, but real capital transfer takes time. This is the difference between news and capital flow.

An interesting phenomenon is: bad news is quickly suppressed and reacts instantly, but the true long-term bearish or bullish signals are reflected in capital flows, which is a slow process. For example, when the central bank loosens monetary policy, it’s impossible to announce that money will flow in on the same day. Funds go through various channels—through lending, account transfers—and only then quietly enter the market. The same logic applies to negative news—impact is quick, but digestion also requires a cycle.

In recent days, Bitcoin has been oscillating between 910 and 890, waiting for this point to be confirmed. The performance this week will largely determine the subsequent direction.