Market signals are mixed, proceed with caution

The Federal Reserve's hawkish stance led to a sharp drop in $BTC in the early hours, which has now fallen near the critical support line MA30.

Currently, the signals from the market are quite complex, with both positive and negative factors at play.

Positive factors:

1. ETF selling pressure has weakened. The day before yesterday, when Bitcoin reached a local peak, strong indicative ETFs like FBTC, ARKB, and BITB saw a combined net outflow of $169.4 million. Yesterday, during Bitcoin's sharp decline, these three ETFs had a combined net outflow of $23.2 million, indicating a significant reduction in ETF selling pressure;

2. In terms of the volume-price relationship, after Bitcoin fell below 100,000, the selling volume decreased, while the rebound volume increased, showing weakened selling pressure and a recovery in buying interest;

3. Bitcoin has not broken below the MA30 support level;

4. The lending rates for stablecoins and the perpetual funding rates are relatively low, indicating the market is in a calm period.