#BTC Currently reported at $60,353.9, with a 24-hour increase of approximately 2.85%. It briefly broke through $61,000 during the day before pulling back. However, institutional pressure remains unabated — the US Bitcoin spot ETF saw a net outflow of $295 million on July 1, and BlackRock's IBIT has reduced its holdings by nearly 100k BTC in the past two months. Coupled with the market-wide fear index at only 19 (extreme fear), the capital side is bearish. On the technical side, the RSI at 54.4 is in a neutral range, the long/short ratio of 1.26 is slightly bullish, but the funding rate is as high as 0.53%, indicating crowded long risks.


In the short term, attention should be paid to whether the key support at $59,200 can hold, as well as the impact of the July nonfarm payroll data on risk assets.
Investing involves risks. Be cautious when entering the market.
BTC0.38%
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