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Bitcoin: Liquidity Crisis During Weak Recovery

Price and Technicals:
Bitcoin's current price is around $63,800-$64,000, maintaining a range of $62,000-$65,000 over the past week, indicating a weak recovery after a decline, with no volume breakout signals. The year's high was $126,000, with a maximum drawdown of nearly 45%. Currently, market sentiment is in the "extreme fear" zone (Fear & Greed Index at 22).

Key Resistance: $64,600-$65,000 (upper end of consolidation), $67,000 (daily midline), $70,000 (trend reversal threshold).

Key Support: $62,000-$61,600 (short-term strong support), $59,000 (ultimate defense level).

Funding Situation Deteriorating:

The US spot Bitcoin ETF has experienced net outflows for six consecutive weeks, with a total outflow of $6.35 billion over the past 30 days, setting a record for the largest capital outflow.

Institutional demand continues to shrink, with Coinbase premium index turning negative, indicating that US institutional investors are withdrawing rather than adding new funds. $BTC
So, the direction is very clear. Liquidation losses are only caused by position management issues; positions are too heavy, and it has little to do with leverage size.
BTC0.43%
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比特币王多鱼
· 06-22 08:42
Opportunity
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