BlockBeats News, May 9th, HTX Researcher Chloe (@ChloeTalk1) stated in the latest HTX DeepThink column that although Bitcoin has returned to $100,000, the current market has not yet shown signs of "frenzied rally." The Bitcoin options implied volatility (IV) remains in the 50%-55% range, significantly lower than the 80%+ level seen at the top of previous bull markets; CME Bitcoin futures open interest is around $14.8 billion, also lower than the $20 billion peak during Trump's election in 2020.

Chloe pointed out that if the U.S. bond yield does not surpass 4.8% again and ETF funds continue to flow in, BTC may fluctuate and consolidate in the $105,000 to $115,000 range, waiting for a new breakthrough opportunity. At the same time, she cautioned that attention should be paid to the uncertainty of trade negotiations between China and the U.S. as well as Europe and the U.S.; if trade friction intensifies, it may create pressure on market sentiment and cryptocurrency prices.

It is worth mentioning that in her column last week, Chloe predicted the possibility of a liquidity window in early May through macro data analysis, creating conditions for funds to flow back into the market.