Overnight Bitcoin retreated again, attempting to break the 76K key level but failed to rebound; yesterday, a short-term rally was also delivered as expected. Currently, although it has rebounded above 77K and various moving averages and indicators, the overall trend still leans bearish, indicating that this decline is not over yet.

At present, the market remains in a structural sell-off phase. Do not be overly aggressive or blindly buy the dip. In the short term, watch for a rebound that has not yet broken 77,800-78,300; it is still mainly a high short position or wait-and-see. Pay attention to the 76k-75,000 range, and above that, wait for a volume breakout to consider a trend reversal after a confirmed breakthrough of 78,300.