May 31st 09:00-22:00 Market Summary

Today from daytime to evening, Bitcoin and altcoins generally showed a "sharp rise followed by a pullback, weak oscillation" trend structure. Bitcoin reached a high near 74,250 and then gradually weakened, quickly dropping to around 73,388 in the evening, followed by a technical rebound, currently oscillating around 73,600; altcoins similarly retreated from around 2,038, touching a low near 2,004, with strong overall correlation.

From the price structure perspective, the 74,200-74,300 region for Bitcoin formed short-term resistance, and the 73,300-73,400 region became an important intraday support; altcoins faced clear resistance above 2,030, with strong bullish defense near 2,000. The BOLL channel opened downward, and after the price broke below the middle band, it moved near the lower band, indicating that short-term bears still hold some advantage.

In terms of capital flow, profit-taking occurred during the Europe and U.S. trading sessions, ETF capital inflow slowed compared to previous days, leverage activity decreased, and market risk appetite weakened. On-chain data shows whale addresses are generally cautious, with few large-scale abnormal transfers, and the market lacks new incremental capital to drive upward momentum.

On the news front, expectations of Federal Reserve rate cuts fluctuated, U.S. Treasury yields were volatile, and macroeconomic data uncertainties continued to impact risk assets. The crypto market continues to monitor ETF capital flows and institutional allocations. Overall, today’s market is in a normal retracement phase after an upward move, without damaging the medium-term bullish structure.

Market sentiment has gradually shifted from optimism to caution, with a noticeable increase in wait-and-see capital. Short-term focus on whether Bitcoin can break through the support at 73,300 and resistance at 74,200, and altcoins paying close attention to the 2,000 level. #美伊谈判博弈 $BTC $ETH