7.5-day outlook

Bitcoin rebounds and returns to the 63,000 level; this rally is driven by a convergence of multiple factors

Non-farm data remains steady, expectations for rate hikes ease, and market risk appetite improves, helping cryptocurrencies strengthen; US stocks continue to rise, with incremental capital flowing into risk assets, and Bitcoin moves up in sync

Previously, the market was crowded with shorts, accumulating a large amount of short positions; after the price broke through a key resistance line, shorts cut losses in concentration, accelerating the rally

In addition, ETF outflows have slowed significantly, institutional sentiment has stabilized, and there is no bearish pressure suppressing the market in the short term

However, this round is only a phase of corrective recovery; the downward trend has not reversed. In the medium to long term, the outlook remains bearish. Don’t be misled by short-term rebound bullish candles—don’t blindly go long

Suggested trades
Btc: short at 63,500, 64,500 facing pressure; targets 62,500, 61,000

Eth: short at 1,800, 1,850 facing pressure; targets 1,710, 1,650
$BTC