$BTC June 11 Market Analysis

After yesterday's decline, the market stabilized at low levels, experiencing a slight technical rebound, but overall remaining in a weak oscillating pattern.
BTC current price is $62,600, up 2.05% in 24 hours, with a low of the day and then a rebound; trading volume during the rebound is average; ETH follows the market higher, current price is $1,645, up 0.9%, with resistance at the 1,670 level, and the rebound strength is insufficient.
Major cryptocurrencies show divergence in gains and losses, the altcoin sector is somewhat active, and overall profit-making effects are average.
In the past 24 hours, approximately $194 million in liquidations occurred across the network, with short positions mainly stopping losses and exiting, easing market selling pressure.
The fear and greed index is at 16, still in extreme fear territory, with market sentiment cautious and confidence not yet effectively restored.
On the news front, the market mainly relies on oversold recovery to drive, short-term traders taking profits, but macro bearish factors like Federal Reserve rate hike expectations still exist, significantly limiting the rebound space.
From a technical perspective, short-term resistance for BTC is at 63,500-64,000, with support at 61,500 and 60,700; ETH resistance is at 1,670-1,720, with support at 1,610 and 1,580.
The current market is only a short-term correction after a sharp decline, and the major downtrend has not changed.
In terms of trading, avoid blindly chasing rallies; consider shorting at resistance during rebounds; re-enter small positions at key supports for cautious trading; overall, stay cautious, strictly control positions, and set stop-losses.
⚠️Risk reminder: Cryptocurrency prices are highly volatile. The content is only an analysis of the market and does not constitute investment advice.