Last week, from the 20th to the 22nd, Bitcoin was stuck at the 88,000 level for a full two days. This is no coincidence—it's a crucial battleground before the weekly chart closes. For contract traders, this hurdle is particularly tricky because the daily contract chart lacks the important reference line of the 120-day moving average (the spot chart still has it).

The contract market amplified volatility, but traffic also surged accordingly, like a double-edged sword. But on the other hand, this high volatility is indeed attracting off-chain funds into the market.

By the 23rd to the 24th, the situation changed. After hitting 90,000, the price immediately turned around and easily broke through 88,000— a level that took two days to conquer previously. This detail is very important: it indicates that 88,000 is actually a resistance level, not a support level. For mid-term players, taking a position at this point carries significant risk.

The rebound from 90,000 back to 87,000 was weak, with only a 1,000-point bounce before turning downward again, falling to 86,000. Logically, it should have dropped further, but this level lacked support. Interestingly, two more positive news waves followed.

Especially the signals related to semiconductor import policies, which directly caused the market, initially set for a deep decline, to reverse for several hours, pulling back from 86,700 to 88,300. This policy-driven stimulus is reminiscent of Trump's earlier remark, "I only care if the US is the number one in the crypto space," showing a similar effect.