It's July already, a new month and a new beginning. Good morning, everyone!

Looking at the US stock market this week, there has been a rebound, but the broader market hasn't followed suit and instead remains weak with oscillations. In comparison, the two have shown a certain degree of divergence, which also indicates that current market funds are still cautious about the crypto market and have not entered despite the rebound in US stocks.

From the chart perspective, the broader market has mostly seen more declines than gains in recent days, with each rebound being relatively limited and never forming an effective upward structure. Currently, it is still operating within a downward channel. So at this stage, my focus remains unchanged: where will the broader market find support and when will it truly complete bottoming? That is the most noteworthy question going forward.

In terms of institutional funds, yesterday's crypto ETFs overall still saw net outflows, totaling approximately $5.5 million. Although the scale is not large, it shows that institutions are still on the sidelines and have not made significant moves to increase positions.

News-wise, it's also relatively calm. There has been no new progress on the US-Iran front, and the market lacks positive catalysts. Naturally, funds are more inclined to wait rather than actively chase highs.

Under such market conditions, I personally maintain my previous view unchanged. The index fluctuations are limited, and the trend has not changed. Short-term trading remains focused on intraday moves. I do not recommend blindly chasing rallies. Wait patiently for clearer direction to emerge.

My personal view for today remains: biased towards downside oscillations, suitable for shorting on bounces.

BTC watch support around 57000; if it breaks, be cautious of further pullback risk. ETH watch support around 1500. SOL watch support around 70.5.
$SOL ‌$ETH ‌$BTC ‌