#比特币反弹 Iran and the US have once again agreed to an indefinite ceasefire, and the crypto market is rebounding

As is well known, yesterday and today are the ceasefire periods between the US and Iran. Trump initially threatened to continue bombing, but his stance changed faster than flipping through a book. Now he wants an indefinite ceasefire, and the crypto market has been fluctuating with the news. As long as the war doesn't end, the K-line keeps drawing without pause. Currently, risk aversion sentiment has cooled down.
Additionally, last night, Federal Reserve Waller's hearing advocated for balance sheet reduction, which will have some impact on market liquidity. However, he mentioned a gradual reduction, which is very likely to be coordinated with interest rate cuts, because not doing so could cause a sharp decline in US stocks. So, it's a minor negative factor, unlikely to have a major market impact.
At this critical juncture, with positive news, the overall market has also made a strong rebound. Bitcoin once again touched the 80k mark, Ethereum broke through 2,400, and Bitcoin and Ethereum ETF net inflows are ongoing. However, the market's rapid rise is not very healthy, so everyone shouldn't FOMO chasing the rally.
A brief technical analysis of Bitcoin: On the daily chart, after the previous candle closed bullish and was supported by the moving average, the intraday opened with continued strong bullish momentum, pushing up to the upper band and slightly breaking the recent high. The Bollinger Bands are opening upward, and the short-term moving averages are trending higher. On the 4-hour chart, the price is supported by the lower band and the 60-day moving average, with continuous bullish candles. Currently, it is trading above the upper band, indicating a relatively strong trend. It is important to note that the current position is also at last week's high-pressure level, so short-term trading should focus on pullbacks for buying and observing whether it will break the 80k mark.

BTC and ETH Resistance and Support
Bitcoin 4H support: 76,900 Resistance: 79,500
Ethereum 4H support: 2,356 Resistance: 2,440
Today’s Fear & Greed Index: 33 (Fear)
4-hour long-short ratio: 49.9% / 50.1%

Intraday Hot News
🪅 Iran has agreed to suspend military combat, but the war is not over yet 🪅 US spot Ethereum ETF net inflow yesterday: $43.36 million 🪅 Waller's statements show a tendency toward rate cuts 🪅
Institutions: Waller's balance sheet reduction plan requires long-term preparation, and the pace will be gradual