$BTC 1.31 Bitcoin Price Today: The hawkish expectations for the new Federal Reserve Chair have triggered a continued market decline. From a wave structure perspective, there are two main paths: one is that Wave X has not yet ended, and the current decline is only a sub-wave, with a rebound still possible (bullish); the second is that Wave X has already ended, and a deep Wave Y decline is beginning (bearish). Meanwhile, the Wyckoff accumulation model indicates that the price may be in a secondary support test phase, with a pattern supporting an upward move. Importantly, two core indicators within the community are signaling buy signals on the 12-hour level, forming a bullish resonance. Overall, although there are bearish shocks, signs supporting an upward trend are accumulating.