$BTC June 22 Market Analysis

Yesterday, after a low-level recovery and rally, the market faced resistance and pulled back; geopolitical news repeatedly disturbed the market, overall returning to a volatile and weak pattern.
BTC current price is $63,620, down slightly by 0.64% over 24 hours, with intraday rally facing resistance and declining, rebound volume quickly shrinking; ETH follows the market weakness, current price is $1,695, down 2.25%, continuing to underperform compared to Bitcoin, with selling pressure concentrated above the 1730 level. Mainstream cryptocurrencies collectively experienced small pullbacks, popular altcoins saw larger declines, and short-term profit-taking effects in the market rapidly diminished.
Over the past 24 hours, approximately $261 million in liquidations occurred across the entire network, with both longs and shorts being liquidated; long positions' stop-loss scales increased, and leverage selling pressure re-emerged. The fear and greed index fell back to 16, still in extreme fear territory, indicating fragile market confidence and strong risk-averse sentiment among funds. On the news front, US-China negotiations were temporarily paused, geopolitical conflict concerns intensified, suppressing risk appetite; combined with the Federal Reserve's rate hike expectations remaining, US bond yields stayed high, spot ETF continued to see small net outflows, further limiting the rebound space in the market.
From a technical perspective, short-term resistance for BTC is at 64,200-64,800, with support at 62,800 and 62,200; ETH resistance is at 1,730-1,770, with support at 1,660 and 1,620.
The current market is only a phase of correction after a sharp decline; the major bearish trend has not undergone a fundamental reversal. In terms of trading strategy, avoid blindly bottom-fishing; consider shorting on rebounds near resistance levels; look for opportunities to lightly short on key support retracements; maintain a overall oscillating mindset, strictly control positions, and set stop-losses. Continue to monitor Middle Eastern geopolitical news and US market data fluctuations in the evening.
⚠️Risk Reminder: Cryptocurrency markets are highly volatile. This content is for market analysis only and does not constitute investment advice.