$BTC June 10 Market Analysis

The rebound yesterday has come to an end, and the market has weakened again, returning to a downward trend.
BTC current price is $61,300, down 3.5% over 24 hours, oscillating within a range and showing no strength for a rebound; ETH is even weaker, with a current price of $16,300, down 4%, and after breaking below the $1,650 level, selling pressure continues to increase.
Mainstream cryptocurrencies are collectively correcting, altcoin sector enthusiasm is fading, and market profit-taking sentiment is low.
Over the past 24 hours, approximately $468 million in liquidations occurred across the network, with more longs stopping out and exiting, leading to cautious market trading.
The fear and greed index remains at 14, still in extreme fear territory, making it difficult to restore market confidence.
In terms of news, Middle East risk aversion has cooled, combined with previous profit-taking outflows, while the Federal Reserve's rate hike expectations persist, continuously suppressing the macro environment.
From a technical perspective, short-term resistance for BTC is at 62,500-63,500, with key support levels at 60,000 and 59,000; ETH resistance is at 1,670-1,720, with support at 1,580 and 1,530.
Currently, the market remains in a major bearish trend, and this rebound has already ended.
In terms of trading, do not blindly buy the dip; if the rebound encounters resistance, consider shorting opportunistically.
Overall, it is advisable to stay on the sidelines, strictly control positions, set stop-losses, and wait for clear signs of stabilization.
⚠️Risk reminder: Cryptocurrency is highly volatile. The content is only an analysis of the market and does not constitute investment advice.