Another round of declines—has Bitcoin bottomed out? It has continued to pull back recently $BTC , and the daily chart has yet to stabilize, so I’m not entering a long position for now.
1. Reasons for the decline: High U.S. Treasury yields, ETF outflows, and concentrated liquidations of leveraged positions are weighing on the market in the short term.
2. Fund flows: BTC and ETH spot ETFs have recently seen net outflows. With insufficient new buying, market participants are leaning toward a wait-and-see approach.
3. Bottom assessment: Watch the $80,000 support level for BTC. If it breaks below that, the next area to watch is $77,000–$78,000.
1. Reasons for the decline: High U.S. Treasury yields, ETF outflows, and concentrated liquidations of leveraged positions are weighing on the market in the short term.
2. Fund flows: BTC and ETH spot ETFs have recently seen net outflows. With insufficient new buying, market participants are leaning toward a wait-and-see approach.
3. Bottom assessment: Watch the $80,000 support level for BTC. If it breaks below that, the next area to watch is $77,000–$78,000.