ETH surged with a massive bullish candlestick in the early morning! Funds are quietly entering, and the bottom of the chart has quietly formed.

June 30 Real-time Market Overview

BTC current price: $60,029, 24-hour increase of 0.40%
ETH current price: $1,593, up 1% intraday
Intraday volatility: BTC amplitude 3%, ETH amplitude as high as 5.1%

Many are still trapped in the panic from the recent big drop, unaware that the market structure has quietly changed, especially ETH's straight-line surge in the early morning hours, which signals institutional positioning.

BTC repeatedly tests the lower bound, with $58,000 becoming a solid bottom.

Reviewing BTC's trajectory over the past week, the support strength is clear.
On June 24, it hit a low of $59,109.
On June 25, it set the current cycle low of $58,107.
On June 27, it bounced back to $59,860.
On June 28, it fell back to $58,902.
On June 29, it again stopped near $58,900.
On June 30, it successfully held above the $60k mark.

A total of five pullbacks tested the $58,000–$59,000 range, never effectively breaking below this zone. This fully indicates that buying support in this area is very solid. $58,000 is the hard defensive bottom for Bitcoin at this stage, and the downside space has been tightly locked.

ETH's straight-line surge in the early morning is by no means retail activity; whales are secretly scooping up筹码.

At 1 a.m., ETH staged a standout rally, surging directly from $1,585 to $1,637.
The key point is that this rally occurred during a very special time—early morning is typically a period of low trading activity, yet the trading volume during this period reached 2 to 3 times the daily average. Options market makers had already completed settlements and stopped mechanically dumping, and the vast majority of retail traders were also at rest. The only ones capable of actively accumulating large volumes in the dead of night are long-term institutions and market whales.

Looking back at ETH's bottom-testing record, the base-building traces are extremely clear.
First: June 26 low at $1,521.
Second: June 28 low at $1,557.
Third: June 29 low at $1,549.

Three consecutive dips were all absorbed by funds and lifted back up. After solidifying the bottom, this morning's volume-driven rally occurred, and the intention of bottom-fishing funds is fully exposed.

Billion-dollar options settlement concluded, market selling pressure completely released.

On June 27, the settlement of $13 billion in BTC options was completed, dividing market sentiment and capital behavior into three stages:

1. June 24–25, pre-settlement: Market makers sold spot en masse to hedge positions, with trading volume directly amplified by three to four times, which was also the source of this round's big drop.
2. June 27–28, post-settlement: Market selling pressure significantly declined, entering a period of shrinking volume and sideways consolidation, with both bulls and bears waiting for a clear signal.
3. June 30, present: Waiting funds began to act, and low-level buying orders gradually entered.

Simply put, the biggest bearish force that had been suppressing the market has completely exited.

Current operational status of various market participants.

Institutional funds: Bought ETH heavily in the early morning and also added BTC near the $60k level, clearly positioning at the bottom.
Options market makers: All positions closed, no longer passively dumping, the largest source of bearish pressure disappears.
Mining community: With BTC holding above $60k, mining profits return to normal, and the pressure from miners selling off has significantly weakened.
General retail: Still influenced by the previous decline, with a fearful mindset, unwilling to enter easily, and continuing to wait on the sidelines.

Key support and resistance levels (practical reference)

BTC

Strong support: $58,000, iron bottom verified by five tests.
First resistance: $61,000; after breaking through, the next target is $63,000.

ETH

Strong support: $1,550, core support area tested three times.
First resistance: $1,640; effective breakout can then target the $1,700 mark.

Summary

The panic sell-off from June 24–25 has completely ended. With the $13 billion options settlement concluded, the market's bearish selling pressure has been fully cleared. ETH's late-night volume-driven surge indicates that major funds are quietly positioning. Bitcoin has successfully built a base repeatedly and stands firmly above $60,000.

Currently, the initial formation of a bottom has appeared. It only takes 1 to 2 trading days to confirm the upward rhythm. At this stage, it is a window period for low-level positioning.

Are you still watching from the sidelines waiting for further signals, or have you already entered positions in batches? Feel free to discuss in the comments.

#BTC #ETH #行业动态