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Core Bullish Drivers

1.Macro Liquidity Tailwinds Provide a Floor: The Federal Reserve has embarked on an interest rate cut cycle and signaled continued easing through 2026, with the released liquidity underpinning risk assets. The "stealth quantitative easing" effect proposed by Coinbase analysts is gradually taking shape. As the Fed shifts from balance sheet reduction to net liquidity injection, it is expected to drive capital flows into the crypto market, providing the momentum for Bitcoin to break through the key psychological level of $90,000. Meanwhile, an uptick in U.S. initial jobless claims or weaker-than-expected CPI data intraday will reinforce dovish expectations, further boosting bullish sentiment.

2.Robust Support from On-Chain Value Zone: Bitcoin’s current MVRV Z-Score stands at 1.17, close to the long-term premium buying range of 1.10. Historical data shows that positions entered at this level yield an average annual return of 40%, attracting long-term capital to accumulate on dips. A dense buy wall exists in the $83,000–$85,000 range, which represents the cost basis of a large number of recent buyers, forming a strong technical support level. With the current price hovering above $88,500, bulls have ample buffer room.

3.Leverage Bubble Deflation Reduces Downside Risks: Open interest in the futures market has fallen back to April lows, with excessive leveraged positions already cleared out. Market froth has been fully squeezed, laying the groundwork for stabilization and upward movement within the current range. Additionally, 30% of Bitcoin’s circulating supply is held by long-term holders such as institutions. This segment of supply remains relatively stable, reducing the likelihood of sharp intraday sell-offs.

Bitcoin trading strategy
buy：87000-88000
tp:89000-90000-92000