The first night of the new year, Bitcoin staged a "roller coaster" market. It plummeted from $89,000 to $87,000, and mainstream cryptocurrencies caught a cold. The single-day liquidation scale was shocking—over 160,000 traders were liquidated, and $228 million in funds vanished overnight.

However, the market's response was also quite swift. After the reopening of European and American institutions, liquidity warmed up, and Bitcoin quickly regained ground, rising back above $89,000. Ethereum also did not disappoint, breaking through the $3,050 threshold.

What is the current situation? The bulls and bears are in a heated standoff. From a technical perspective, the evening US market session is particularly critical—if it pulls back under pressure, the subsequent trend is likely to be range-bound; if it breaks through, caution is needed to prevent a "quick rise and fall" repeat. The real key to breaking the deadlock depends on macro factors.

Bitcoin's fate isn't that simple. US dollar liquidity and global regulatory attitudes are constraining its direction. Key events like January's CPI data and FOMC meetings could be turning points. From signals of rate cuts to economic meeting cues, all these clues are sending the same message: pessimistic narratives tend to be more accurate, but optimistic strategies are more likely to succeed.

What should traders do? Respond rationally to high-volatility markets and avoid getting caught in leverage traps. Following the trend blindly often leads to losses; riding the momentum requires careful methods. Macro signals are the guiding compass—understanding the US dollar's movement and regulatory expectations is essential before planning positions and strategies. That is the right approach.

In turbulent times, opportunities still exist. Behind the chaos lie new chances. The choice is in your hands—go with the flow or ride the wave; the outcome will speak for itself.