June 29 Evening

In the evening, the overall BTC market continued its weak consolidation ↓, with bullish momentum exhausted in the market and bearish sentiment continuously dominating. On the fundamental side, the market's expectations for a Fed rate cut continue to be delayed, directly pushing up U.S. Treasury yields, which persistently suppresses the overall market valuation. Meanwhile, BTC spot continues to see outflows, and with the recent option expiration settled, the market experienced a significant decline ↓. The lack of incremental capital support in the market means that evening price movements largely follow the weakening rhythm of U.S. stocks.

Recently, long positions across the market have been concentrated and liquidated, and the selling pressure has not been fully released, with downside risks still present. On the daily level, moving averages show a standard bearish arrangement structure. The previous key integer level of 60000 has completely changed its nature, transforming from a former support level into the current core strong resistance level. Every rebound is characterized by insufficient volume and clear resistance-based pullbacks.

Suggestions
BTC: Short at 6.03-6.09, target 5.90-5.82
ETH: Short at 1580-1600, target 1530-1480.