$BTC First look near 63,000: tonight’s situation is basically similar to yesterday. The macro-side positives still can’t push the price back above 64,300, suggesting that at the moment BTC isn’t following macro conditions or the U.S. stock market—momentum is weak.
So continuing yesterday’s pattern, we’ll keep watching for a pullback. In the early morning, when #BTC probed the 63,000 support, a strong rebound appeared, but it still wasn’t enough.
The hourly candles closed to stop the decline, but the rebound lacked strength. Evidently, this spot can only serve as temporary support; it can’t be taken as a signal that the whole range has stopped falling.
Next, watch how price tests the 60,000–58,000 area. After that, whether we truly find a bottom and whether the rebound continues strongly will depend on daily-level testing of support, candle closes, and then assessing how strong the rebound is—only then can we judge whether range bottoming is complete.
Whether the range bottom is finished—and whether the newly tested bottom breaks below 58,000—will determine when the next trend will start!
#Solana质押因路由错误接近停机
Let’s record some market data:
There are no unusual changes in overall market cap. Trading volume is weaker than last Tuesday. BTC trading volume is slightly up, but the altcoin sector’s trading volume has dropped noticeably. Trading activity levels remain sluggish.
Total funds decreased by 200 million. USDT and USDC each saw a net outflow of 100 million, and overall funding conditions are not optimistic.
Summary for this phase:
Based on the order book/price action, trading volume, and fund flows, the near-term stabilization is only temporary. Fund flows are also not favorable. Keep watching for a pullback: if 63,000 breaks down, we’ll look to see whether the market can be activated around 60,000!
Also, as I said before: I’m not pessimistic about this kind of downside pullback right now. On the contrary, I think it could complete the pullback and confirm the bottom before the September policy meeting—which would be a good thing!
So continuing yesterday’s pattern, we’ll keep watching for a pullback. In the early morning, when #BTC probed the 63,000 support, a strong rebound appeared, but it still wasn’t enough.
The hourly candles closed to stop the decline, but the rebound lacked strength. Evidently, this spot can only serve as temporary support; it can’t be taken as a signal that the whole range has stopped falling.
Next, watch how price tests the 60,000–58,000 area. After that, whether we truly find a bottom and whether the rebound continues strongly will depend on daily-level testing of support, candle closes, and then assessing how strong the rebound is—only then can we judge whether range bottoming is complete.
Whether the range bottom is finished—and whether the newly tested bottom breaks below 58,000—will determine when the next trend will start!
#Solana质押因路由错误接近停机
Let’s record some market data:
There are no unusual changes in overall market cap. Trading volume is weaker than last Tuesday. BTC trading volume is slightly up, but the altcoin sector’s trading volume has dropped noticeably. Trading activity levels remain sluggish.
Total funds decreased by 200 million. USDT and USDC each saw a net outflow of 100 million, and overall funding conditions are not optimistic.
Summary for this phase:
Based on the order book/price action, trading volume, and fund flows, the near-term stabilization is only temporary. Fund flows are also not favorable. Keep watching for a pullback: if 63,000 breaks down, we’ll look to see whether the market can be activated around 60,000!
Also, as I said before: I’m not pessimistic about this kind of downside pullback right now. On the contrary, I think it could complete the pullback and confirm the bottom before the September policy meeting—which would be a good thing!