Last night, the market tested a drop below 61,000 but rebounded somewhat, briefly returning above 62,000, but it never managed to stabilize. It’s clear that this rebound is very weak; frankly, it’s just sweeping away a batch of blindly shorting orders.

Currently, the overall news sentiment leans towards bearishness. On one hand, the World Cup is about to start, and on the other hand, the US stock market has attracted a large number of mainstream cryptocurrency investors pulling funds out and entering the market. In this environment, it’s very difficult for the market to move into a strong upward trend. But even if the overall environment is bearish, try not to chase shorts emotionally now. The current price has not broken recent lows, so the downside space is very limited. Plus, tonight’s key CPI inflation data will be released soon. With energy prices continuously rising and overall prices and inflation levels remaining high, this data will directly influence the Federal Reserve’s future rate hike pace. If the data shows positive performance, the market is likely to rebound sharply. Chasing shorts now could easily get caught in a reverse trend, which not only increases holding pressure but also results in a poor risk-reward ratio.

Therefore, the short-selling strategy needs adjustment. Patience is key—wait for the price to rebound to 63,500-64,500 before going short again, which is a safer choice. In the short term, it’s better to rely on recent lows for defense and focus on long positions, which will offer a higher cost-performance ratio.

Specific trading levels:

Bitcoin retraced to 59,750-60,180, with a stop-loss set at the recent low of 59,000. The first target is to reduce positions at 61,500; if broken, look for 62,220-63,000 $BTC .

Ethereum long positions at 1,555-1,572, with a stop-loss of 40-50 points. In the short term, aim for 1,620, and if broken, target 1,650-1,700 $ETH .