Read a whole night in 30 seconds | May 20, 00:00-09:00

From last night to this morning, Bitcoin overall maintained low-level consolidation and structural repair. The price first dipped around 76107 and then rebounded. In the early hours, it was pushed up to around 77042 at its peak, but clear pressure was evident above. It then fell back to consolidate around 76500-76600. Overall, Bitcoin has not yet seen a strong breakout on the short term. Around 76000 remains a key support during the night, while the 77000-77200 area is the rebound resistance zone. The market is mainly characterized by weak oscillation.

As for Ethereum, the nighttime trend is also mainly dominated by oscillation and repair. It rebounded from around 2093 at low levels and reached a high near 2124, but after that it came under pressure and pulled back, currently consolidating around 2105. In terms of overall structure, Ethereum’s rebound strength is weaker than Bitcoin’s. There is clear resistance in the 2130-2150 area above, while the 2090-2060 zone below remains a short-term support band.

From the perspective of capital flows, trading volume overnight was generally average. During the rebound phase, volume was not able to expand sustainably, and capital was more focused on watching and waiting. Technically, both Bitcoin and Ethereum are in low-range box-like oscillation structures, with limited MACD recovery strength. KDJ rose and then fell back, and RSI is holding neutral-to-weak. On the news front, rising US Treasury yields are weighing on risk assets, and the weakness in US stocks also affects sentiment in the crypto market. At the same time, outflows from Bitcoin ETF capital continue to disturb market confidence. 

Overall, the main storyline in the crypto market last night was: Bitcoin oscillating at low levels, Ethereum weakly repairing, capital sentiment leaning toward staying on the sidelines, and the short term still depends on whether key supports can hold effectively. #PYTH今日解锁21.3亿枚代币 $BTC $ETH