Last night, the market experienced another rapid sell-off, with BTC briefly dropping below the 60,000 mark, triggering another round of concentrated liquidation of long positions. Looking at this decline, it was largely influenced by the continued weakness of U.S. stocks, with risk aversion sentiment in global risk assets noticeably heating up.

Not only is the crypto market under pressure, but gold has also fallen below the 4,000 mark, indicating that capital is further reducing risk exposure. The market's next key focus is when U.S. stocks will stop falling. If U.S. stocks continue to adjust downward, gold and the crypto market are likely to remain dragged down, with further room for risk release below. Therefore, being long on futures requires caution at this stage.

From the current market perspective, although the market has attempted to rebound multiple times, the overall momentum remains weak, with each rebound lacking sustainability, and bears still in control. For today's trend, my personal view remains bearish. If the 60,000 mark cannot be firmly reclaimed, further downside is possible.

Ethereum and most altcoins are generally following the market's lead. Against the backdrop of extremely panicked market sentiment, it is difficult to see independent trends in the short term. The market has now entered a panic phase, and BTC has once again hit a new low for this correction.

BTC has fallen nearly 53% from its historical high, a significant correction. Therefore, focus on the 55,000 area to see if a phased bottom support can form. Of course, whether the market can ultimately stabilize needs to be assessed in conjunction with subsequent capital flows, news, and U.S. stock trends.

My spot market view remains unchanged. For those looking to bottom-fish, I still recommend prioritizing coins with good liquidity, high market attention, and in popular sectors. Avoid going all-in at once; instead, adopt a phased approach and build positions gradually for relative stability.

As of yesterday, crypto ETFs saw net outflows of approximately $250 million, indicating that institutional capital is still mainly reducing positions to hedge risks, and market confidence has not yet recovered significantly.

Key support levels to watch today:
BTC: around 58000
ETH: around 1500
SOL: around 63

In terms of trading strategy, short-term remains focused on shorting at highs, patiently waiting for clear signs of stabilization before considering medium-term positioning.
$BTC ‌$ETH ‌$SOL ‌