Brothers, I just took a quick look at Coinglass—Bitcoin is still grinding around $62,400. But the market isn’t idle. In the past 4 hours, liquidations across the whole network totaled $402 million: long positions were wiped out by $391 million, while shorts only saw $11 million liquidated.

These numbers are kind of interesting—everything looks calm on the surface, but underneath, it’s all corpses.

In the 4-hour timeframe, shorts remain completely unchanged, which suggests this leg down is a chain-reaction of long liquidations, not shorts flexing. Earlier, it surged to $65,600 and was instantly slapped back to $63,800. The up-and-down needle swings of 1,800 points—this is the most brutal kind of price action: the ones chasing longs get buried, and even the bottom-catchers are left hanging.

Good news—U.S.-Iran negotiations have reopened in Switzerland, and the biggest weight pressing down on top is starting to loosen. Also, Strategy has quietly added 520 BTC this week again—no doubt true fans.

Concerning—ETFs have had net outflows for 6 straight weeks. Over the past 30 days, 6.35 billion have run out, setting the longest redemption record since listing. BlackRock, Fidelity, and ARK are all redeeming—major long capital is turning into selling pressure. With this setup, who would dare to bottom-fish with confidence?

Risk—The Fed’s dot plot says rate hikes may continue into 2026, and the 2-year U.S. Treasury yield has climbed to 4.23%. The U.S. Dollar Index is pressing near a one-year high, putting pressure on non-interest-bearing assets—overall conditions are just too unfriendly for BTC.

Bottom-line levels: 59,000-60,000. This range has been tested repeatedly—if it breaks below, the on-chain cost base at 53,000 is next.

Here’s how to play it:

· Longs: Test with a light position at 60,500-61,000, place the stop-loss below 59,000, with 20% of your position size. Targets are 63,500-64,000—when it gets there, take profit on half first.
· Shorts: Test short positions at 63,800-64,200, stop-loss at 65,500, target 61,000. The risk-reward ratio is decent, but you have to closely watch U.S.-Iran negotiation news.

This “not up, not down” spot is the most tormenting. When do you think ETF outflows will finally stop? Let’s chat in the comments 👀#Gate股票7x24小时交易 $BTC