#BTC After Bitcoin failed to break through 795, the daily chart has seen consecutive declines, and it is currently testing the 756 area for a potential low. The main reasons for Bitcoin’s sell-off are threefold.

①: Macro and policy shifts: The newly nominated candidate for the Federal Reserve chair, “Wosh,” has a hawkish stance. The market worries that monetary policy will tighten, which is directly bearish for Bitcoin. At the same time, inflation has surged to 4.8% within the past year, reducing the likelihood of rate cuts. The market remains cautious, and selling pressure has increased.
②: Geopolitical conflict escalations drive risk aversion. The U.S.-Iran situation remains tense, and crude oil rose to 107 per barrel at one point. This directly triggered a risk-avoidance mode, with funds flowing into gold and oil.
③: Weakness in both funding and technical factors. After the rebound reached the strong resistance zone of 790–800, the need for a technical pullback was released, causing $298 million worth of futures contracts to expire worthless. The largest single-day outflow reached $263 million, and institutions’ willingness to chase higher weakened. In addition, retail investors’ appetite is not strong, and trading volume shrank by 17%. The market lacks momentum.

As for the Federal Reserve decision in the early hours of Thursday and the uncertain U.S.-Iran situation, the market is waiting for these two key points. Bearish catalysts could push prices directly down to 730, or even below the 70,000 integer level. Meanwhile, bullish momentum only needs to break through the 80,000 integer threshold. As long as it holds above 80,000, the price could then directly surge toward the 820–850 area.

In short, short-term volatility is relatively high. First, you must control position size and carry proper defenses to avoid getting swept away. Second, near the long liquidation zone, you can consider going long; near the sell-pressure levels, you can consider shorting. After the fundamentals show clear signals, follow the trend accordingly.#加密市场小幅下跌