According to a report by Jinse Finance, Matrixport’s daily chart analysis indicates that while Bitcoin has returned to its recent highs, the momentum for stablecoin issuance continues to decline. The lack of newly injected market liquidity may be one of the key reasons why Bitcoin has not achieved a decisive breakout. On-chain data shows that the inflow of new capital into the market remains limited. Considering that summer is typically a period of subdued trading activity, breaking the current pattern will still require new macro catalysts. Against this backdrop, we believe bullish investors may consider hedging potential risks by selling call options. Although there is still room for gradual price appreciation, the likelihood of a rapid surge in the short term remains low.