Before the Non-Farm Payroll data is released, Bitcoin plunges to around 61,000

The geopolitical situation in the Middle East remains volatile, driving up international oil prices. Market inflation expectations have once again risen, and market speculation about further Federal Reserve rate hikes is heating up further. Hindered by multiple factors, BTC and ETH have slipped into a weak, drifting downtrend. Earlier this morning, Bitcoin fell to around 614, and Ethereum dropped to 1712.

This Friday, key factors include U.S. Non-Farm Payroll data, progress in Middle East ceasefire negotiations, and fluctuations in international oil prices. If the Non-Farm data comes in significantly better than expected, and there is no substantive breakthrough in Middle East peace talks, prices will likely probe lower support levels; conversely, if geopolitical tensions ease, Bitcoin will see a technical rebound. Right now, the entire market is quietly waiting for the Non-Farm report to provide direction.

Overall, the market sentiment remains weak. Remember that black swan event from that year? The first thing you did after waking up was to go short—blindly, without thinking. After the early-morning normal rebound from an oversold condition, there is some support near the 60,000 mark; if it breaks, another round of a major drop is expected. Resistance is at 654–656.

BTC trading suggestion: short 644–648, add to the short on a rebound; defend at 66,200; target 62,7 00; if support breaks, look for 615–602$BTC #ETH跌幅超5%