#BTC Let’s take a look at what happened yesterday, and what to focus on next…

After Bitcoin hit 794, there was heavier sell pressure above that level, causing the price to pull back. Among them, BlackRock sold $523 million, setting the highest single-day outflow record since the launch of its IBIT Bitcoin product. The reason was that clients redeemed their shares in a concentrated manner, forcing BlackRock to sell underlying Bitcoin to meet those redemptions. The $80,000 mark gathered a large amount of sell pressure, and institutions are selling as well—indicating the pressure is enormous. The sell pressure overhead has formed a strong “ceiling.”

When the price returned below 77, institutions bought again. Otherwise, it was very possible the price would drop directly to 750, triggering a chain reaction that pushed toward the 741 long liquidation zone. At the moment, the market is in a standoff between “institutions slowly buying” and “retail quickly running.” It’s difficult for both sides to break through. And no matter which side breaks first, there will inevitably be a chain reaction. Currently, the liquidation zone is concentrated around 741 below. The overhead sell pressure is concentrated near 80,000. Without major fundamental catalysts, neither side will easily break levels.

Fundamentals:
① Live updates from an ongoing Bitcoin conference.
② Later in the day, the Bank of Japan will release its interest rate decision and hold a monetary policy press conference.
③ Geopolitics—“the Middle East situation that can flare up anytime.”
④ Early Thursday morning, the Federal Reserve will release its interest rate decision and hold a news conference with Jerome Powell.
Among these, the biggest impact is the Federal Reserve’s interest rate decision early Thursday. It will cause one side to break. Before that, the likelihood of trading within a ranging zone is higher. #比特币突破7.9万美元 #白宫记协晚宴发生枪击事件