Bitcoin’s daily chart is arranged bearish. At the moment, it looks like a slow bleed lower, not a sudden crash.

In the market, there’s no rapid “pin” to confirm a bottom. Shorting at the resistance area offers better cost-effectiveness. If there were a sudden plunge with a pin, it would more easily attract dip-buying funds to enter. Right now, during this consolidation and upward drift, there’s no volume to support it—buying pressure keeps shrinking. This is not a healthy continuation of an uptrend!

While the price is falling, no clear bullish divergence is visible. The CVD (funding/volume delta) funding line shows no signs of reversal. Only retail investors are making a small-scale dip buy, and there’s a lack of strong counterattack momentum!

Funding rates continue to climb. Bulls keep increasing leverage to bet on a rebound. Once a key support level is breached, a large group of longs will cut losses at the same time, which will accelerate the decline. U.S. stocks—especially the Nasdaq tech stocks—are weakening; shorts are seeing increased volume, and the upward momentum is fading.

Previously, BTC was able to range tightly at high levels thanks to a broad rally across global stock markets. Now that the support from outside has been removed, bullish momentum is completely missing. In the short term, I still expect weakness and a slow, grinding decline, with no signals of a bottom reversal. Pay close attention to the 75k support level. If it breaks, a deep pullback is likely to start. If 75k fails, watch for 7w support below.