#当前行情抄底还是观望？ Over the past 24 hours, Bitcoin has experienced a bottoming out, rebound, and narrow-range fluctuation. During the Asian trading session, the price remained within a narrow range around $67,000, with market sentiment cautious as traders waited for the US stock market to open and macroeconomic data to be released; during the US trading session, influenced by the collective weakness of US tech stocks and a strengthening dollar index, market risk appetite rapidly declined, and Bitcoin synchronized with the decline, breaking through the key levels of $67,000 and $66,000 consecutively, with an intraday low of $65,700; in the closing phase, the price rebounded from oversold levels, ultimately recovering to the $66,500-$67,000 range for consolidation, with overall volatility narrowing.

Market Core Influencing Factors
1. Tightening macro liquidity expectations: The dollar index rose through the 98 level during the session, hitting a four-week high. Market expectations for a near-term Fed rate cut continued to cool, combined with the upcoming release of the US January core PCE inflation data. Funds generally remained cautious, flowing out of high-risk assets, directly suppressing Bitcoin’s price movement.
2. Increased correlation with US risk assets: Currently, Bitcoin’s correlation with the US tech software sector has significantly increased. As US tech stocks weaken collectively, sector-wide selling pressure quickly transmits to the crypto market, becoming a major catalyst for the current downward trend.
3. Persistent market sentiment gloom: The overall crypto market remains in extreme fear, with the Fear & Greed Index at low levels. Investors are reluctant to buy, and combined with the continued unwinding of high-leverage long positions, creating a negative feedback loop that further amplifies market volatility.

Market Outlook and Risk Warning
In the short term, Bitcoin remains in a predominantly sideways and weak pattern, with the core market driver being the upcoming US core PCE inflation data. If inflation data exceeds expectations, it will further reinforce hawkish Fed expectations, likely causing the price to break below the $65,000 support level and opening further downside space; if the data meets or falls below expectations, market liquidity expectations may ease, and Bitcoin could see a technical rebound. The height of the rebound will depend heavily on whether the resistance zone of $67,000-$68,000 can be broken through.
This article is based on publicly available information and is not investment advice!!!