$BTC 7.3 Daily Crypto Market Analysis

⚠️Risk Warning: Cryptocurrency volatility is high. This content is for market reference only and does not constitute investment advice. Futures trading with high leverage can easily lead to liquidation.
BTC is currently at $61,470, up 4.5% in 24 hours. Last night's non-farm payroll data significantly missed expectations, cooling rate hike expectations and driving an oversold rebound. The low of $57,758 held as support. ETH rebounded in sync to $1,646. Major altcoins saw minor gains, but small-cap coins showed weak rebound momentum, with market funds concentrated only in major public chains. Market sentiment has moved out of extreme fear into the neutral zone. Concentrated short liquidations fueled a short-term rally. However, BTC spot ETFs continue to see modest net outflows, and the long-term institutional reducing trend has not reversed. Citi has simultaneously lowered its full-year price targets for BTC and ETH, indicating ongoing medium-term selling pressure.
On the macro front, June non-farm employment weakened sharply, with the market pricing only a 17.6% probability of a rate hike in July. US Treasury yields edged lower, providing short-term relief to valuation pressure on non-yielding crypto assets. However, the expectation of a rate hike in September remains near 50%, and the high-interest-rate environment has not changed.
Key levels: BTC short-term resistance at $62,000, support at $59,000; ETH resistance at $1,670, support at $1,530.
Trading strategy: This round is only an oversold bounce, the trend has not reversed. Spot positions should not chase highs. For futures, if the rebound meets resistance, a light short position can be attempted with strict leverage control. Altcoins lack sustained momentum and should be avoided. Focus on US Treasury yields and Nasdaq fluctuations in the evening.