#美联储降息 BTC's recent performance is worth paying attention to. Over the past 24 hours, Bitcoin's price has fallen nearly 2%, and hash rate has declined by 8%, with the overall market sentiment remaining relatively cold.
But there's an interesting point—institutions are actually increasing their holdings. MicroStrategy recently bought approximately 10,645 BTC, investing nearly $980 million, bringing their total to 671,268 BTC. The American Bitcoin supported by the Trump family is also active, pushing their holdings over 5,000 BTC. This ongoing institutional accumulation signal is quite strong.
On the macro front, things are a bit complicated. The Federal Reserve may pause its balance sheet reduction, with rate cut expectations in 2026, and treasury bond purchases are increasing. These factors could inject liquidity into the market, which is positive for risk assets like $BTC. However, signals of possible rate hikes from the Bank of Japan have emerged; if yen arbitrage trades are liquidated, global liquidity could be drained, posing a significant risk.
From a technical perspective, BTC's RSI is only at 40.97, indicating insufficient buying momentum and a lack of strong rebound in the short term. Plus, the rapid shutdown of mines in Xinjiang has led to an 8% decrease in network hash rate, raising some concerns about network security.
In the community, many expect that by Q1 2026, due to the Federal Reserve's policy shift and liquidity release, the cryptocurrency market could experience a significant upward cycle. The current volatility may, to some extent, reflect an accumulation phase. $ETH $BTC