Recently, the market has been somewhat frustrating. Bitcoin has been repeatedly hovering around the MA20 on the monthly chart, and this pattern is expected to continue in the short term. Considering the weekend effect, this week is likely to remain in a narrow range of oscillation.

The current approach is still to rely on the monthly level to look for rebound opportunities, with Ethereum generally moving in sync with Bitcoin.

An interesting phenomenon is that—although the crypto market hasn't been very impressive lately—gold and silver have performed quite aggressively. There is a deeper logic behind this: the US is starting to expand its balance sheet, coupled with the early signs of a rate-cut cycle. Historically, this period often comes with risks of inflationary recession. The US stock market and crypto markets are facing systemic pressure, while precious metals, as hedging assets, naturally become the first choice for safe-haven.

However, from a larger perspective, we are still in a rebound process, which may later face a deeper correction. Under this logical framework, the continued strength of gold makes a lot of sense.