EMC Labs' view that the mid-term adjustment of Bitcoin (BTC) may have ended and the market will rebound at $58,400 is mainly based on the following considerations:

Market behavior analysis: BTC price plummeted to $58,400, approaching the adjustment low in early May but not breaking it. This behavior retested the lower edge of the new high adjustment box and tested the rising trend line formed since October last year. This price behavior indicates that the market may be looking for a new support point. Funding acceptance: In the range of $58,000 to $60,000, the trading volume was effectively enlarged, indicating that a large amount of funds took over the selling. This phenomenon further proves that there is a strong buyer's power in the process of the market looking for support. Short-term trader status: According to the eMerge engine, short-term traders as a whole have entered a floating loss state, and sold 28,000 BTC in a loss state, realizing a loss of hundreds of millions of dollars. This shows that short-term traders in the market are undergoing adjustments, and their behavior often has a certain impact on the market. Market sentiment index: The current market fear and greed index has fallen to 30, entering the "fear" range. This indicator is usually used to measure the market's emotional state. When the index is low, it often means that the market is in a state of panic, but it may also mean that the market's reversal opportunity is coming. Comprehensive judgment: Combining technical indicators, support levels and market conditions, EMC Labs determines that BTC's mid-term adjustment is likely to have ended. This means that after a period of adjustment, the market may usher in a new upward cycle.

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