Bitcoin suddenly surged last night during U.S. stock market hours, reaching a peak of $94,640, before being knocked down to around $92,000. The continuous premium effect from CB reappears, indicating that institutions are crazily buying on dips.

Recently, Cathie Wood, CZ, and others have come out to announce the end of the 4-year cycle. Currently, mainstream institutional confidence in the market has greatly increased, but retail investor confidence remains very weak. To restore retail confidence, there must be a surge that brings Bitcoin back to $10,000; at that time, retail investors will go crazy again.

As mentioned before, the 4-hour level for Bitcoin indicates a confirmed rebound trend. The upper resistance is in the range of $96,000 to $98,000. If this range is effectively broken and held, a new round of increases will come, otherwise, it will continue to oscillate and adjust.