After the previous decline, BTC is attempting to stabilize and rebound, with some short-term recovery, achieving four consecutive days of rebound. Macro bullish factors and technical rebound are the main drivers. Market sentiment has recovered from "Extreme Fear" to the "Fear" stage, and panic has also eased.

🔍 Core Influencing Factors

1. Macro Pressure Temporarily Eases

The U.S. June non-farm payroll data was much lower than expected, with only 57k jobs added. This significantly cooled market expectations of a Fed rate hike this year, weakening the dollar and lowering U.S. bond yields, creating breathing room for risk assets.

2. Signals of OTC Fund Inflows

After experiencing a net outflow of $2.73 billion over 10 consecutive days, the BTC spot ETF saw a net inflow of approximately $223 million on July 3, the largest single-day inflow since May. This temporarily stopped the capital drain, but sustainability remains to be seen.

3. Technical Analysis: Short-term vs. Medium-to-long-term Signals Diverge

· Short-term (4-hour chart): Price broke through the descending wedge pattern, found support around $60,000 and rebounded. The RSI indicator showed bullish divergence (price made new lows but the indicator did not make new lows), and short-term selling pressure weakened.

· Medium-to-long-term (daily chart): Price remains far below the 100-day and 200-day moving averages ($75,000). This area is a key resistance for judging trend reversal. Before reclaiming it, the medium-term trend remains bearish.

🎯 Key Levels and Liquidation Risk

The current market is in a critical battleground zone, where both upside and downside could trigger chain reactions:

· Key strong resistance above: The $64,000 area is the first hurdle for bulls; once broken, it may open up room for recovery toward $71,000.

· Key strong support below: Around $55,000