According to past patterns, U.S. tech stocks have sold off sharply, and the market is likely under pressure as well.
But this time, Bitcoin not only didn’t fall—it's actually reclaimed the level above 61,000, which suggests that the market is starting to see a new shift.老许公开策略交流群
I believe this isn’t that capital has suddenly turned optimistic; rather, selling pressure is weakening.
In the recent stretch of consecutive declines, most of those who needed to panic have basically already been shaken out. Now, even if the broader market turns bearish, Bitcoin’s downside has clearly narrowed, indicating that investors are gradually taking positions at lower levels instead of simply dumping.
Last night’s decline in U.S. stocks was mainly due to the drag from the AI sector.
The market has started re-evaluating tech companies’ capital expenditures. Some funds have chosen to lock in profits, so chip stocks have seen a relatively larger pullback.
However, this kind of adjustment at the moment is more about capital rotating within the U.S. stock market, and it hasn’t been rapidly transmitted to the crypto market like in the past.
Also, the Federal Reserve still hasn’t released any clear easing signals. The market is now waiting for tonight’s Non-Farm Payrolls data.
If employment data comes in significantly stronger than expected, the U.S. dollar may continue to strengthen, and risk assets could face pressure in the short term. If the data is weaker, it could improve expectations for subsequent policy easing, which would be more favorable for the market.
One more point that can’t be overlooked: even though the U.S.-Iran negotiations are still progressing, differences remain on both sides, so it’s unlikely that a decisive outcome will be reached in the short term. Therefore, the impact of news on price action is likely to be mainly short-term sentiment-driven fluctuations.
My view hasn’t changed.
The market is a bit stronger than a few days ago, but it still hasn’t truly broken out into a new trend.
Until there’s a breakout of key resistance with increased volume, I’d rather treat it as a consolidation and repair phase—not the start of a new uptrend.
Today’s key focus:
BTC: Resistance around 62,000. Only after it holds above that level is there a chance for further upside room to open.
ETH: Resistance around 1,680. After a breakout, watch whether it can continue with volume.
SOL: Resistance around 81.
In terms of trading, continue to focus mainly on intraday shorts. If you don’t understand, don’t trade impulsively—wait for the market to show its direction, then follow the trend. That will give you a higher chance of success.
$B $MU $LAB
#韩国股市跌6% #比特币ETF6月净流出45亿美元 #MORPHO涨超12%
But this time, Bitcoin not only didn’t fall—it's actually reclaimed the level above 61,000, which suggests that the market is starting to see a new shift.老许公开策略交流群
I believe this isn’t that capital has suddenly turned optimistic; rather, selling pressure is weakening.
In the recent stretch of consecutive declines, most of those who needed to panic have basically already been shaken out. Now, even if the broader market turns bearish, Bitcoin’s downside has clearly narrowed, indicating that investors are gradually taking positions at lower levels instead of simply dumping.
Last night’s decline in U.S. stocks was mainly due to the drag from the AI sector.
The market has started re-evaluating tech companies’ capital expenditures. Some funds have chosen to lock in profits, so chip stocks have seen a relatively larger pullback.
However, this kind of adjustment at the moment is more about capital rotating within the U.S. stock market, and it hasn’t been rapidly transmitted to the crypto market like in the past.
Also, the Federal Reserve still hasn’t released any clear easing signals. The market is now waiting for tonight’s Non-Farm Payrolls data.
If employment data comes in significantly stronger than expected, the U.S. dollar may continue to strengthen, and risk assets could face pressure in the short term. If the data is weaker, it could improve expectations for subsequent policy easing, which would be more favorable for the market.
One more point that can’t be overlooked: even though the U.S.-Iran negotiations are still progressing, differences remain on both sides, so it’s unlikely that a decisive outcome will be reached in the short term. Therefore, the impact of news on price action is likely to be mainly short-term sentiment-driven fluctuations.
My view hasn’t changed.
The market is a bit stronger than a few days ago, but it still hasn’t truly broken out into a new trend.
Until there’s a breakout of key resistance with increased volume, I’d rather treat it as a consolidation and repair phase—not the start of a new uptrend.
Today’s key focus:
BTC: Resistance around 62,000. Only after it holds above that level is there a chance for further upside room to open.
ETH: Resistance around 1,680. After a breakout, watch whether it can continue with volume.
SOL: Resistance around 81.
In terms of trading, continue to focus mainly on intraday shorts. If you don’t understand, don’t trade impulsively—wait for the market to show its direction, then follow the trend. That will give you a higher chance of success.
$B $MU $LAB
#韩国股市跌6% #比特币ETF6月净流出45亿美元 #MORPHO涨超12%