On the morning of June 4th, the market settled, with BTC at a current price of 64,257 USD, down 4.12% in 24 hours, ETH at 1,814 USD, down 2.96%, BNB and SOL also dropped over 4% simultaneously.

According to CoinGlass data, in the past 24 hours, 185,298 traders were liquidated across the entire network, with total liquidations of $940 million, over 80% of positions were long, and short-term bottom-fishing funds were largely trapped.
Combining overnight financial news and industry confirmed reports, the three main core reasons for this ongoing weakness are:
1. Large outflows from US spot ETFs again: yesterday, BTC spot ETF saw a net outflow of $519 million in a single day, ETH ETF outflow of $90.2 million, institutional funds continue to exit, and consecutive redemption days have dragged the market lower;
2. The Middle East geopolitical conflict continues to escalate: US-Iran confrontation intensifies, safe-haven sentiment in maritime areas rises, crude oil prices increase, reinforcing global inflation expectations, Federal Reserve officials remain hawkish, rate cut expectations are delayed again, and high US Treasury yields continue to divert funds from the crypto market;
3. US stock technology sector divergence: NASDAQ fluctuates at high levels, Coinbase’s US stock also declines, Wall Street risk appetite drops, and funds flee from high-risk crypto assets for safety.

Key levels reference
Short-term support: 63,800 USD, a break below this level targets strong support at 61,500 USD
Short-term resistance: 65,800 USD, rebound faces continued weak resistance and volatile oscillation

Operational ideas
Spot: Do not rush to heavily buy the dip; small batches of mainstream coins can be gradually deployed below 64,000 USD, thoroughly avoiding unlisted scam coins;
Futures: Strictly control leverage, avoid blindly buying the dip, prioritize short-term shorts on rebounds, and do not hold overnight positions in choppy markets.

#BTC触底66000
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