Friends who have been watching Bitcoin's recent movements should have noticed—BTC has been oscillating around 93,000, and this morning it even closed above the upper Bollinger Band. Can this level break out, or will it plunge back for a correction? The key is to look at it from two perspectives.

First, let's talk about the news side. The situation in Venezuela is fermenting. Since 2018, they have been accumulating over 660,000 Bitcoins through gold swaps, oil export cash-outs, and gradual conversions, with a book value approaching $60 billion. This is not the holdings of a retail investor but actual national-level asset reserves.

Where is the problem? Although the Maduro regime faces scrutiny, these coins have not been fully frozen or controlled yet. Future developments such as interrogations, asset freezes, or on-chain transfers could become market triggers. Large whale movements often trigger emotional surges or crashes—this is a common scenario in on-chain markets.

In the medium to long term, this actually reinforces Bitcoin's narrative as a "national-level asset." More and more institutions and countries worldwide are treating BTC as a strategic reserve. Once this perception takes hold, support for the price will be driven not just by speculative sentiment but by real asset allocation needs.

Now, let's look at the technical side. The 93,000 level is in a relatively sensitive zone. The upper Bollinger Band has been touched, indicating short-term buying momentum. However, the volume and daily support levels will determine whether it breaks through or pulls back. Continuous daily observation is necessary—whether it breaks previous highs upward or tests key support levels downward will signal the next move.

To summarize: The news side contains a ticking time bomb that could trigger panic in the short term but strengthen BTC's value consensus in the medium term. The technical side requires close attention to breakout confirmation. These two factors intertwined form the complete picture of Bitcoin's current market. Stay alert to developments and don't be scared off by short-term volatility.