Bitcoin's morning price broke through the 71,000 level again, but lacked sufficient bullish support to sustain the rise, causing the price to pull back once more. From a one-hour perspective, after standing above 7.1w three times recently, the price has retraced each time. Looking at the attached indicators, the KDJ three-line has entered the overbought zone. From the VOI volume perspective, the bulls remain sluggish. Currently, the geopolitical situation has minimal impact, but in my view, without substantial chip participation, the price cannot firmly stabilize above the 70k level in the short term.