Today's Strategy: Range trading with high selling and low buying, primarily shorting on bounces, and quick long entries on dips with fast exits.

Entry Level: 639 - 642
Stop Loss: 650
Take-Profit Targets:
First Target: 625 - 631
Second Target: 615 - 620

In-Depth Analysis: News, Capital Flow & Technicals

I. Global Financial & Geopolitical News
- Fed "Hawkish" Pressure: Officials keep delivering hawkish remarks; minutes even discussed rate hikes! The U.S. dollar index stabilizes, preventing macro factors from fueling sustained crypto upside.
- Geopolitical Risk Fades: Middle East negotiations enter a buffer window. Without sudden conflict triggers to boost buying, market risk appetite remains neutral to weak, and capital is reluctant to chase highs.
- Policy Vacuum: No new positive crypto policy catalysts; earlier expectations have been fully priced in. There is a lack of incremental sentiment to break through overhead resistance.

II. On-Chain & Capital Data
- Whale Dumping Signal: On-chain data shows whale addresses continuously transferring coins to exchanges above 63,300, with a strong desire to cash out at highs. This indicates major players are distributing coins during the rebound!
- ETF Inflows Weak: Although BTC spot ETFs saw minor inflows, the sustainability is lacking. Top institutions mainly reduced holdings at highs. This rebound is purely driven by short-term leveraged funds, with poor endurance.
- High Long Congestion: Long crowding in the futures market has increased at highs. Once upward momentum fizzles (e.g., today's wick at 63,938), a long squeeze is highly likely. Short-covering rallies are essentially over, and selling pressure can resume at any time!$BTC #SK海力士ADR获超额认购