#BTC The current price is 75720. After a sharp pullback, the market is now repeatedly testing key support. The rally above 80400 was followed by a retreat, and the bulls’ attempt to rebound quickly lost momentum. After concentrated selling pressure was released, market sentiment clearly weakened, and the short-term market has entered a weak recovery phase. The first resistance above is around 78000, an area of heavy trading activity in the past and the dividing line between bulls and bears in this downturn. To regain the initiative, the price must hold above this level with a corresponding increase in volume; otherwise, bears are more likely to cap each rebound. The first key support below is 75200, the recent low. A decisive break below it would open the door to further downside, with the next support zone around 73600. In terms of fund flows, inflows into spot ETFs have slowed, and deleveraging in leveraged positions is not yet complete. Short-term capital is inclined to wait and see, with insufficient active buying to absorb selling pressure. Indicators have also entered bearish territory, so rebounds are mainly driven by oversold recovery and are unlikely to lead directly to a reversal. It is not advisable to rush into buying the dip. Prioritize waiting for signs of stabilization: either consider following the trend after the price holds above 78000, or wait for a test of support and a subsiding of selling pressure before looking for an entry. In a range-bound market, the risks of chasing rallies and selling off in a panic are amplified. Until the direction becomes clear, keeping positions light and managing stop-losses carefully is the more prudent choice.