Bitcoin appears to have bottomed out, preparing to buy the dip?

After a sharp decline, the range has been oscillating repeatedly, waiting for non-farm payroll data to break the deadlock!

On June 4th, the market initially saw hope for a ceasefire in Lebanon, which provided some support for the coin price, but later, Hezbollah refused to cease fire, and Israel's stance remained firm, making the market realize that the Middle East peace process is not so smooth, with many twists and turns. In addition, the US dollar remains strong, the US labor market is stable, and the Federal Reserve has been cautious about inflation. These factors are layered, suppressing the coin price and making it difficult for the price to break out of an upward trend.

At 8:30 PM, the important non-farm payroll data was released on time. The market generally predicts that the US added 85k jobs in May, with the unemployment rate remaining steady at 4.3%. Currently, the market is confident that the Federal Reserve will hold steady at the June meeting, keeping interest rates unchanged, but this employment data will directly disrupt rate expectations: if the employment figures are significantly better than expected, it indicates a hot US economy and persistent inflation risks, likely prompting the Fed to extend the high-interest rate cycle.

The current market is only a short-term rebound from the bottom and cannot yet be considered a reversal. Even during sideways consolidation, there is still room for decline. It is still a bit early to buy the dip.

BTC trading suggestion: short at 636-640, stop loss at 800 points, target 62,700, break below to watch 62,100-61,600-60,900. #比特币ETF单日净流出7272枚