$BTC June 19 Market Analysis

After a sharp decline yesterday, the market continued to weaken and fluctuate downward, with insufficient buying support from the bulls, maintaining a predominantly bearish downward trend.
BTC current price is $62,630, down 1.83% over 24 hours, with a lack of rebound during the day and continued downward pressure, with selling volume remaining high; ETH follows the market weakness, current price is $1,682, down 2.72%, showing a weaker trend than Bitcoin, with short-term support repeatedly under pressure.
Mainstream coins all declined across the board, altcoin sectors retraced entirely, and the market's short-term profit-taking effect has completely disappeared.
Over the past 24 hours, approximately $353 million in liquidations occurred across the network, with longs continuously taking losses and being liquidated, and leverage selling pressure persistently dragging down the market.
The fear and greed index dropped to 13, plunging into extreme fear, with market risk-avoidance sentiment at its peak, and strong willingness among funds to stay on the sidelines.
On the news front, the hawkish Federal Reserve decision's residual effects continue to ferment, with expectations of rate hikes increasing within the year.
U.S. Treasury yields and the dollar index remain high, continuously suppressing risk assets.
Spot ETF funds continue to flow out, and on-chain incremental funds are scarce.
From a technical perspective, short-term resistance for BTC is at 63,500-64,200, with support at 61,500 and 60,800; ETH resistance is at 1,730-1,760, with support at 1,650 and 1,600.
The current market is in a downtrend dominated by hawkish macroeconomic bearish signals, and the bearish trend is fully established.
In terms of operations, blindly bottom-fishing at low levels is strictly prohibited.
Rebounds reaching resistance can be shorted selectively, waiting for clear signals of a bottoming and stabilization before taking light positions.
Overall, reduce positions, strictly set stop-losses, and continuously monitor changes in U.S. market fund flows.
⚠️Risk Reminder: Cryptocurrency is highly volatile. The content is for market analysis only and does not constitute investment advice.