6.11 Bitcoin: Don't be fooled by the small rebound, the overall trend is still downward

$BTC
Currently stuck in the range of 61,700-62,000, neither rising nor falling sharply, a typical consolidation during a downtrend. Many people see no further decline today and think the bottom is in, wanting to buy the dip for a rebound. I advise you to stay calm first.

Rebound is just a trap: 62,500-63,000 range, with a breakout at 63,500, watch 61,000-59,500.

This round of decline is not just a technical correction; the fundamentals have completely turned bearish, institutions are fleeing, the Federal Reserve is forcing a squeeze, and we retail investors really shouldn't hold on stubbornly.

The Federal Reserve's June interest rate decision is next week, and the market is already pricing in "no rate cuts this year, possibly even rate hikes." In a high-interest-rate environment, no one dares to hold large positions in high-risk assets like crypto.

Spot ETF has been net outflow for 13 consecutive days, totaling $5.5 billion. The institutions that previously pumped the market are now dumping and fleeing. What can we do to compete with them?

Funds are all moving into dollars and gold for safety. Bitcoin now has even lost its attribute as digital gold; it's just a pure speculative asset #美国5月CPI创三年新高