#以太坊行情解读 Can Bitcoin reach 200,000? The liquidity story under loose policies sounds appealing, but the real actions of major players tell a different story.

The latest Federal Reserve policy is interpreted by industry insiders as a form of QE, which means the devaluation of fiat currency is accelerating—theoretically, Bitcoin has logical support to rise from the current level to $124,000 or even surge to $200,000. The problem is, recently a top investor transferred 508 Ethereum to a large digital asset fund.

Saying one thing and doing another—this kind of operation is worth pondering. On the surface, the market appears to be driven by policy and trending upward unilaterally, but at the capital level, subtle differentiation is happening—retail investors are still dreaming of the "$124,000" feast, while institutions are reducing their positions at high levels. This is not a conspiracy; it’s the market’s inherent "expectation gap."

In the short term, there’s a high probability that Bitcoin will oscillate between $80,000 and $100,000. If a real liquidity wave comes, $124,000 is just the starting point; but if capital flows continue to diverge from optimistic narratives, be prepared to take profits at high levels.

The core logic is simple: policies are surface indicators, but wallet flows are the real indicator. Watching where major players’ funds are flowing is often more useful than listening to any analysis. How far this rally can go ultimately depends on real capital.