BlackRock dumped $900 million in three days! $BTC Can 58600 hold?



Brothers, just saw on-chain data: BlackRock deposited 15,442 BTC into the exchange over three days, and another 3,625 BTC tonight. This is no small move.

News side:
BlackRock has been making large-scale transfers to exchanges for three consecutive days, usually signaling preparation for selling or liquidity adjustment. Combined with the background of over $4 billion in net outflows from ETFs in June, institutional sentiment remains bearish. Whales are exiting; retail investors shouldn't rush to catch the falling knife.

Technical side:
Current price 58648, running weakly along the lower Bollinger Band at 58314.

Resistance above: 59000, strong resistance 59500-60000.
Support below: 58314; if lost, look at 57800.

Gongming's view:
MACD negative value expanding, bearish momentum still present. RSI at 36.77, in the weak zone. Short-term rebound limited, range-bound with a bearish bias.

Trading strategy:
Wait for a rebound to 59000-59200 area to go short.
First target 58300, second target 57800.

Institutions are distributing; don't impulsively buy the dip. Wait for a full decline before picking up cheap chips. Only by staying alive can you have opportunities.

#Gate股票转仓功能上线 #道琼斯指数创历史新高
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