#稳定币发展 Bitcoin's support around the $88,000 region is indeed worth paying attention to—being able to hold this level in a low-liquidity environment indicates that institutional funds are indeed accumulating on dips. The capital inflow into spot ETFs also confirms this, and the market sentiment shifting from panic to cautious optimism is not unfounded.

What’s even more worth tracking is the expansion of stablecoins linked to US Treasuries. This not only reflects the willingness of international funds to re-enter the crypto ecosystem but also hints at a substantial improvement in on-chain liquidity. From on-chain data, the inflow of stablecoins often serves as a leading indicator for subsequent asset allocation.

In the short term, the support level at $91,500 is crucial—holding this level leaves room to test the $95,000 resistance, while breaking below could lead to a retest of the $88,000 area for re-stabilization. The first quarter is likely to see this kind of oscillation and breakout process. Market volatility driven by institutions has decreased, which actually increases the reliability of predictions. As long as there are no black swan events, the target of $120,000 to $150,000 remains logically consistent.

The key still lies in monitoring the movement of stablecoin funds and exchange outflow data, as these can truly reflect whether new capital continues to enter.