Crypto Market Analysis 7.04 The correlation between US stocks and encryption has slipped, and a potential bottom has emerged! The correlation between Bitcoin (BTC) and the S&P 500 Index (SPX) has dropped to 0.05, and market trends have diverged significantly. In the past five years, especially during the epidemic and from the end of 2021 to 2022, the trends of the two are highly positively correlated. At the beginning of 2024, both rose. However, while the S&P 500 continued to reach new highs, Bitcoin hovered around $60,000, occasionally falling below this level. Bitcoin and the S&P 500 have been negatively correlated four times since 2019, each time heralding local lows for Bitcoin prices. The best time window is before July 11. Before the CPI data is released, it is the potential bottom of crypto. It is the right time to gradually build a position. Daily level analysis: A large-level downward trend, with the upper pressure level around 63,000 and the lower support level around 58,000. 4-hour market trend: The market has begun to recover, with the upper pressure level near 60800. Observe the intraday decline. Intraday level analysis: At the monthly close, the bottom is likely to be around 57000-58000. There is little possibility of a continued decline thereafter. The mid-track pressure is around 64000. The target will be 68000 after a breakthrough. Liquidation intensified in the early morning, with the exchange's liquidation target below 60,000, and is expected to continue until tomorrow or July 11 CPI. No need to wait too long, you can start buying gradually today. Just stay calm and let spot holders ride out this difficult moment in crypto history.#Bitcoin#BTC#Cryptocurrency#Market Analysis #投资策略 $BTC #btc #eth #crypyo