6.29 Monday BTC morning thoughts

After yesterday's options expiration, Bitcoin continues to operate in a weak rhythm today, with prices steadily falling back to around 59500 and consolidating. The previous 60000 integer level has been completely lost, turning from original support into strong resistance. The chart is very clear: whenever prices rebound slightly near the 60000 level, selling pressure emerges, and bulls have no sustained upward momentum.
At present, the overall macro environment remains bearish. The Fed maintains a hawkish stance, expectations for rate cuts continue to be delayed, and the U.S. dollar and Treasuries remain strong, continuously suppressing risk assets like Bitcoin. Coupled with cooling risk appetite in the U.S. stock market and overall cautiousness among off-market funds, Bitcoin spot ETFs have seen capital outflows for multiple weeks. There is no new capital entering the market to provide support, and overall liquidity is tight, leading to weak rebounds and a grind-down pattern.
Looking at today's chart rhythm, the daily line continues to weaken, staying in a downtrend. Each rebound is on decreasing volume, while declines are smoother, which is typical of a weak market. Short-term key support lies in the 58800–59000 range, which is the last short-term defense line. If this level is broken effectively, the market will continue to probe new lows. The resistance above is very clear: the 60000 level and the key demarcation point at 60279 form a double resistance, with a large amount of trapped longs above. It is difficult to see a meaningful reversal rally in the short term.
Trading suggestion: Short on rebound to 600-605, target 585, break below then see 570$BTC $ETH $SOL