Read a Whole Night in 30 Seconds

In the early hours of June 7th, the market experienced a clear oversold rebound. Bitcoin rebounded from around 60,363, consolidating its bottom before continuing to rise, with funds entering intensively in the morning, pushing the price up rapidly, reaching a high of around 61,641, a single-sided rebound of over 1,200 points; Ethereum also recovered from around 1,548 to near the 1,600 mark, with a stage gain of over 50 points, showing significantly stronger performance than the weak trend in previous days.

From the price structure perspective, after Bitcoin re-entered the 61,000 level, the short-term trend shifted from weak to strong, but the 61,600-62,000 zone has already entered the previous resistance band, and chasing the rally funds are becoming cautious; Ethereum successfully reclaimed the key zone of 1,580-1,600, and short-term bearish pressure has weakened. Technically, the MACD formed a golden cross at low levels and continued to expand, the KDJ entered a strong zone, and the RSI quickly recovered from oversold territory, indicating a clear market sentiment warming.

On the capital side, during the early hours, there was a noticeable short covering and bottom-fishing funds entering, with some high-leverage short positions being passively closed, providing upward momentum for the market. There were no major negative news, and the Fed's rate cut expectations temporarily warmed up, coupled with a slowdown in ETF fund outflows, easing the previous market pessimism.

Overall, the key word for the market last night was: recovery. After consecutive sharp declines, funds began to reassess the value of low-position chips, but it is still in the rebound stage, and a trend reversal has not yet been fully confirmed. The focus moving forward will be whether Bitcoin can stay above 62,000 and Ethereum above 1,600 steadily.