$BTC Strategy's shift from "marginal buying" to "marginal selling" is a structural turning signal for the market, compounded by rising hawkish expectations from the Federal Reserve and record ETF outflows. BTC's support level of $59,000 is currently a make-or-break line—if it falls, quantitative funds may accelerate selling; if it holds, we await the turning point in ETF fund flows in early July.

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