⭐ BTC Today's Market Update

Bitcoin has temporarily held the $60k level over the past couple of days, but the biggest issue with the rebound is: trading volume has not clearly increased. Although the price pulled back from $59,000 to around $61,700, the hourly bullish candles are noticeably shrinking in volume, indicating more short covering and some bottom-fishing funds testing the waters, rather than a strong rally. From the daily chart, BTC is still in a downward structure, with the price oscillating narrowly between $60,000 and $61,700. The daily MACD has not yet shown a clear convergence after a death cross, and the RSI is in the oversold zone, suggesting there is indeed short-term rebound demand, but a trend reversal cannot be confirmed yet. On the 4-hour chart, BTC is consolidating around the $60,000-$61,700 range, testing $60,000 multiple times before bouncing back, indicating this level is temporarily supported. However, the rebound highs above are not significantly higher, and trading volume is shrinking, indicating a lack of buying confidence.

Fundamentally, ETF net outflows have continued for several days, with a large cumulative outflow, indicating institutional funds are still retreating in the short term. On-chain, some whales are withdrawing coins at low levels or suspected of long-term holding, but this only shows long-term funds are entering, not an immediate short-term trend reversal.

Key levels:

Resistance above: 62,500-63,800

Support below: 60,500-59,000

Therefore, the overall strategy today remains: avoid chasing the rally and do not blindly short at low levels. If the rebound reaches around 62,500-63,800 with insufficient volume or shows signs of stagnation, consider a light short position; if the price pulls back to around 60,000 and shows clear volume-supported support, consider short-term long positions to catch a rebound.