Market overview & outlook (BTC (2026-7-25) — morning)

The market surged and then fell back. After topping at 66,900, it has been weakening steadily. The current price has dropped to around 63,900, and short-term bullish momentum is clearly fading.
On the macro side, bearish factors are intensifying: a sharp jump in oil prices raises inflation concerns; rising US Treasury yields are weighing on risk assets; BTC spot ETFs have ended their streak of consecutive net inflows and turned to outflows, as institutions reduce positions and leave in the short term.
Technically, the 65,500 support has already been broken. The short-term core support is around 63,500; if this area fails to hold, price could further test 63,000. Overhead resistance has shifted down to 64,500-65,000, where sell pressure is heavy on any rebound.

Trading strategy:
If a short-term rebound faces resistance, take a small short position. If the price pulls back to 63,500 and stabilizes, consider a low-entry. For the medium to long term, the overall uptrend has not fully broken down; set a unified defensive stop-loss below 62,000. For the long-term target, still look at 70,000.
For BTC, trade around 64,400-64,800; target downside is 63,000-63,500. $BTC #直通IPO第二期JerseyMikes