Bitcoin retreated to around 87,508 on Sunday evening and then began a technical rebound. The rebound momentum was concentrated in the early morning yesterday, reaching a high of 89,982 to test the resistance level. Subsequently, it remained in the high 89,000s throughout the day, indicating strong profit-taking and bearish pressure near that price level. However, market sentiment suddenly shifted in the evening, influenced by a plunge in US stocks, causing Bitcoin's price to plummet sharply, with a low of around 85,100. Currently, it is consolidating within a narrow range around 86,000. The short-term bulls and bears are in a more balanced struggle, but the bearish dominance remains unchanged. From a technical perspective, the daily rebound momentum has clearly slowed down. After a continuous rally, the price failed to stabilize at high levels and instead pulled back, indicating strong resistance above and gradually weakening rebound strength. From the analysis of smaller timeframes, the trend is notably weak, especially on the 4-hour chart: previous rebounds were weak, and after touching the mid-channel resistance on the 4-hour chart, it failed to break through, forming a downward pressure and decline. Subsequently, it even broke below the lower support of the 4-hour channel, with candlesticks showing consecutive declines, further reinforcing the short-term bearish trend.