Analysts: Institutions have increased their holdings of more than 30,000 BTC in the past week

CryptoQuant analyst Axel Adler Jr said in a post that the non-farm payrolls data was less than expected (73,000 vs expected 110,000), the Federal Reserve stayed put for the fifth time in a row and there were internal differences, and the escalation of tariff tensions. Bitcoin quickly pulled back from a high of $119,800 to $112,000, the momentum fell to + 3% on the 30th, and ADX fell to 36, indicating that the short-term bullish momentum weakened. Despite the intensification of short-term volatility, the structural bullish logic has not changed. Strategy and institutions increased their holdings of more than 30,000 BTC in the past week, the options market Max Pain stabilized at $118,000, and the high strike price bullish position dominated. The "Crypto Project" initiated by the SEC is also expected to ease long-term regulatory pressure on the industry.