Bitcoin today remains in a range of approximately $78,000 to $78,500. The market is at a critical point of bullish and bearish contestation, with $80,000 serving as a strong psychological and technical resistance. Over the past 24 hours, the total liquidation amount across the network reached $282 million, with bears slightly dominating. The Federal Reserve's hawkish stance has limited macro liquidity expectations, but institutional buying still provides support: U.S. spot Bitcoin ETF net inflows reached $629.8 million in a single day, and the leverage structure has improved after derivatives clearing. The options market prices only about a 25% probability of breaking above $84,000 by the end of May, indicating that derivatives investors remain cautious about further upside. Overall, short-term momentum mainly comes from institutional spot buying and short squeeze, but macro tightening conditions still pose constraints. $BTC #美国寻求战略比特币储备