After continuous adjustments, Bitcoin's price is approaching the short-term support zone. From a technical perspective, the moving averages are in a bearish alignment, and both volume and price are declining, indicating that major funds are temporarily retreating and observing. The MACD shows slight signs of stabilization in the short term, but no clear bullish trend has formed. The RSI value indicates oversold conditions, suggesting a potential rebound opportunity, but there is no clear capital inflow, and the Federal Reserve maintaining interest rates unchanged has led to overall weakness in risk assets, with BTC also under pressure. Additionally, geopolitical tensions and ETF liquidity tightening are external bearish factors, making it difficult for BTC to break out significantly upward. After a large bullish candlestick in the short term, the bulls did not follow up, indicating that the main forces are not strongly motivated to rebound.