Tonight, the crypto market faces significant pressure—BitMine's stock issuance voting is about to be finalized, and the US initial jobless claims data will also be released. The chain reaction from these two events could trigger intense volatility. BitMine plays a crucial role in the mining industry, and the outcome of its issuance directly influences the market's assessment of BTC hash rate value; if the unemployment data exceeds expectations, it could boost the Federal Reserve's rate hike expectations, putting pressure on the entire risk asset market.

However, there's an interesting detail—institutional funds have quietly started accumulating near the strong support level of 94413, and this bottom-building posture is quite obvious.

Currently, BTC is oscillating around 96719, with multiple attempts to break through 96800 failing, but it has also not fallen below the support at 94413. This "not falling when it could" situation actually indicates that the bulls are gathering strength. Even more interesting is that 96183 has shifted from a resistance level to a support level, forming a double bottom structure. Once the resistance at 97779 is broken, the upward space will be opened.

The volume indicators are also signaling—MA5 and MA10 have formed a golden cross, and the main force's large order ratio is approaching zero, which usually indicates that the main players have completed their accumulation work, waiting only for a catalyst.

Many people see the repeated suppression at 96800 and think it's a bearish signal, but in fact, this is a classic "trap" pattern. Historical patterns tell us that after repeatedly testing a key resistance level, BTC often breaks through with a long bullish candle.