#Gate2月衍生品市场份额创新高

Bitcoin has pulled back under pressure from its previous high of 73800, with price entering a cyclical correction structure. In the early morning yesterday, it probed down to 70470 and found short-term support, followed by technical rebound during midday session, bouncing to the 71300 area before pulling back under pressure. In the afternoon, it tested the low point of 70300 for the second time, confirming the validity of the short-term support zone. Subsequently, it entered low-level narrow-range consolidation, with bulls and bears showing cautious positioning. At 7 AM today, price showed exploratory upside moves with short-term longs showing some activity, currently quoted around 71200. Technically, key attention should be paid to the 71500-72200 resistance zone upside, which is a confluence of previous dense trading area and short-term pressure level. Effective breakthrough and stable positioning above this level are needed to confirm continuation of the rebound structure. If the rebound lacks strength and fails to stabilize, price still carries risk of further pullback and testing lower support levels. Overall, treat with cautious oscillation approach. $BTC