Recently, the cryptocurrency market has shown interesting dynamics. The price trend of Bitcoin (BTC) displays a special pattern: after experiencing several hours of fall, there is often a strong bullish candlestick that pumps the price. From a technical analysis perspective, this may suggest that the market is in a consolidation phase.

On-chain data shows that the holding ratio of large holders is increasing, while the over-the-counter (OTC) reserves of Bitcoin have dropped to about 155,000 coins, close to historical lows. This phenomenon aligns with the trend of institutional investors and some governments considering incorporating Bitcoin into foreign exchange reserves, reflecting a significant increase in potential demand. For example, MicroStrategy has significantly increased its holdings by 182,391 BTC this year.

The future market trends may be influenced by multiple factors, including Trump's related statements, adjustments in trade policies, and the Federal Reserve's interest rate decisions. These events could serve as catalysts for pushing BTC prices to break through. However, for other encryption currencies (commonly known as "altcoins"), the outlook may not be very optimistic, as they tend to experience larger declines during BTC pullbacks.

Based on the current market situation, investors may consider focusing on mainstream cryptocurrencies such as BTC, SOL, and BNB. At the same time, for investors with a higher risk tolerance, they may also moderately pay attention to potential projects like DOT, KSM, JUP, and UNI.

The current cryptocurrency market may be at a critical turning point. However, investors must remember that the cryptocurrency market is highly volatile, and investment decisions should be based on thorough research and risk assessment.