The US and Iran reached a phased agreement, expectations for navigation through the Strait of Hormuz eased, global risk-aversion sentiment cooled, and risks-averse capital flowed back into risk assets—directly driving BTC’s rebound after yesterday’s intraday low, which is the core support for the current market.

Spot ETF fund flows saw a slight return, and institutional selling pressure weakened; however, retail investors are split between long and short positions, and there is not much willingness to chase rallies. In the short term, the market is mainly driven by a contest of existing capital. The Federal Reserve’s rate-cut expectations remain relatively cautious, U.S. Treasury yields are still fluctuating at high levels, which suppresses the room for BTC’s large-scale upside, making it difficult to see a one-way, blowout rally.

The market is experiencing narrow-range consolidation during the day; over the past 24 hours it has been slightly down. Overall, it is in a high-level buildup, waiting for a directional choice. Indicator status: the daily chart has held above the short-term moving averages; the MACD red bars continue; RSI is in a neutral range with no overbought or oversold conditions—consolidation is slightly bullish, with moderate bullish momentum, and no one-way trend.

The overall trend is mainly sideways. Pullbacks can be treated as a bullish view at the bottom. You may take a staggered bullish approach around the bottom area of 76300-75800, with targets looking toward the 77600 level#机构资金从BTC轮动至HYPE和XRP #以太坊隐私升级路线图 #btc