Bitcoin rushed to 59780 last night due to the stimulus of CPI news, but then quickly fell to 57152 under pressure. The market fluctuated so much that it was undoubtedly the focus of the market. In the currency circle, every price fluctuation of Bitcoin affected everyone's heart.
From a technical perspective, Bitcoin is hovering around the 57000 mark, breaking and recovering back and forth, so it is currently in a relatively fragile stage. MACD is continuing to diverge downward in the falling area, and RSI has repeatedly fallen below the 50 mark during this period. From this point of view, the probability of the subsequent market going down to the 56000 line is very high, and after effectively breaking this position, the downward trend may extend further.
In the current market environment, Bitcoin is facing multiple pressures. On the one hand, the uncertainty of the global economic environment has increased the risk aversion of the market, making funds more inclined to flow to relatively safe assets. On the other hand, the regulatory environment of the digital currency market is also constantly changing, bringing additional uncertainty to the market. However, even in this context, Bitcoin, as the leader of the digital currency market, is still optimistic about its long-term value by many people. Many people believe that this price drop is just part of the market adjustment, not a reversal of the trend. They point out that Bitcoin's fundamentals remain solid, especially in the context of global financial digitization, and its potential as a value storage and exchange medium is still huge.
Of course, the market trend is always full of variables. If Bitcoin can hold the 56,000 mark, the market will rebound. But if this support is effectively broken, the room for decline may be further opened, and 55,000 or even 53,500 may become new test points.
