6.5 Afternoon Bitcoin Market Analysis

In the morning, the price first slowly dropped from 74,000 to around 72,300, then in the midday, it rebounded slightly to around 63,500. Immediately after, in the afternoon, short-term volume surged, and Bitcoin quickly broke below the previous low to around 61,000, while Ethereum first moved down past the 1,700 mark, hitting a new low of 1,622. Currently, the short-term situation is not perfect, but it still shows good resilience. The market is not your enemy; emotion is. Every sharp decline is rationality on sale.

Now, Bitcoin is fighting, and after volume caused it to break below the previous low, it did not immediately head toward below 61,000. It was then quickly rebounded by buyers, pulling the price back to around 63,000. The market has just experienced a tug-of-war with repeated fluctuations, and the overall trend is still unstable. The test of the previous low by the recent dip shows some effectiveness, but support buying at lower levels is not weak either. We may need to wait until tonight’s non-farm payrolls and U.S. stock market opening to see their impact. The Ethereum retracement should be slightly stronger, and its trend is still aligned with Bitcoin’s. Brothers with losses, there’s no need to rush into any trades right now. For the rebound, look at 63,500 first; if it faces resistance, continue to follow the trend and target the 60,000 level. #比特币ETF单日净流出7272枚 $ETH