Bitcoin has recently completed a round of price consolidation, and the market structure is undergoing subtle changes. The most direct signal comes from institutional players — last week, the inflow of funds into BTC spot ETFs reached $1.42 billion, the strongest weekly performance since October, reflecting ongoing confidence among institutional investors in Bitcoin's long-term value.

The voice of corporate procurement has also become louder. Fast-food chain Steak 'n Shake announced the addition of $10 million worth of Bitcoin to its balance sheet. This is no longer new, but each corporate increase in holdings reinforces a signal — BTC is gradually evolving from an investment asset into a strategic asset. Meanwhile, a leading institutional holder withdrew 12,658 BTC to a cold wallet, which usually indicates a strengthening intention for long-term holding.

On the technical side, positive signals have also appeared. The MACD indicator recently formed a bullish crossover, and volatility has decreased month-over-month. From a pattern perspective, this suggests that after consolidation, upward momentum is accumulating. However, caution is warranted as long-term holders are also taking profits — a whale holding for 12 years sold 500 BTC last week, cashing out $47.77 million. While this is normal operation, it could still exert short-term selling pressure on the market.

A more concerning risk is the pattern doubt. Some voices in the on-chain analysis community point out that the current price structure subtly hints at a double top or a bear market rebound, serving as a reminder for participants to stay vigilant. Coupled with the ongoing legislative efforts in the US to regulate the cryptocurrency market structure, regulatory uncertainty remains a sword hanging overhead.