Thursday, June 11th BTC Morning Outlook

This morning, Bitcoin price fluctuated around $61,430, with a slight decline of 0.51% intraday. The daily trading range was narrow, with low volume, and buyers and sellers remained deadlocked. Since reaching a historic high last year, the coin price has nearly halved and is currently in a bottoming phase after a decline, with market bullish sentiment subdued.
The market continues to weaken, mainly due to the pressure from Federal Reserve monetary policy. U.S. inflation data has warmed, market expectations for rate cuts have faded, the probability of rate hikes has increased, the dollar and U.S. Treasury yields have risen, global liquidity has tightened, and funds are fleeing the crypto market. Meanwhile, the US spot Bitcoin ETF has experienced continuous large redemptions, institutional funds are constantly retreating, and only retail investors and miners are taking small positions, which is insufficient to absorb selling pressure, resulting in a lack of upward momentum.
On the technical side, $60,000 is a key short-term support level. Falling below it would further test the annual low, marking a watershed between long-term bull and bear markets; resistance is strong at $64,000–$65,000, and only a stable break above the $68,000 moving average can reverse the weak trend.
Trading suggestion: rebound to 625–630 to look for short opportunities, with a target of breaking 610 $BTC to see 595.