In the past two days, there's a data point worth noting — US BTC spot ETF institutional net inflows reached approximately 7500 bitcoins, marking the largest single-day net inflow since October 7th. By overall bull market cycle standards, this is also a respectable achievement. BlackRock and Fidelity, the two giants, accounted for close to 6000 of these, which shows that institutional players have keen instincts.

However, a bigger variable is brewing these two days — the US Supreme Court's opinion issuance day is scheduled for this Friday (11 PM Beijing time Friday night). This is the Supreme Court's first formal procedural engagement with the critical moment regarding global tariff legality, and might even become the Supreme Court's first ruling on related tariff policies. Currently on Kalshi, the support rate is only 30%, which means the market broadly expects the Supreme Court is likely to initially determine that this tariff is problematic for the first time. This will have considerable impact on policy direction.

**How to view BTC's technical aspect?**

Big coin is currently at a critical crossroads. After breaking through the neckline two days ago, it's now retracing. Multi-day level bulls and bears are intensifying their contest, with obvious pressure from above. The most pressing issue right now is whether the 4-hour level can repair its formation well through the oscillation. From a high probability perspective, there should be some oscillation or minor pullback in the short term, with support around 91500 — if this level doesn't hold, we need to be vigilant. If support holds, the upside rebound space can open up. Overall, the trend is still quite strong, with solid daily line movements; the focus is monitoring small-level changes. Support to watch: 91500-90200 range; Resistance: 95000-96500.

**What about Ethereum?**

Ethereum's daily level trend is quite beautiful, having already broken through the descending trendline and currently retracing to confirm. Compared to Bitcoin, the strength is somewhat better at this position. What needs attention is whether the 1-hour level can continue oscillating upward around the trendline above. The short-term key is whether the 3300 point can hold — if it slips, we need to be careful of dual pullback on the 1-hour and 4-hour levels. The likely intraday trend is still minor oscillation upward; support to watch: 3225-3160; Resistance: 3300-3358-3430 range.