Bitcoin experienced a 1.53% mild pullback after reaching a new high, which is a typical cooling-off pattern after a breakout. From the market perspective, the price remains consolidating above the key support zone, and open interest stays high, indicating that this is more likely profit-taking by bulls combined with bear probing rather than a signal of major institutional dumping.

From a technical standpoint, the current tug-of-war between buyers and sellers is quite evident. The price has absorbed buying interest above the previous breakout structure, and selling pressure on lower timeframes is being continuously digested, with no signs of panic selling yet. As long as the critical demand zone at 87,500-88,000 is not effectively broken downward, the overall market structure remains bullish.

In terms of trading strategy, this pullback actually provides a healthier foundation for the subsequent upward movement. Pay close attention to long opportunities in the 89,000-89,500 range, with a stop-loss set at 87,500, and targets at 92,500 and 95,000 respectively. The market structure is still quite clear; patience is needed to wait for better entry points.