Market signals are mixed, proceed with caution

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

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

Positive factors:

1. ETF selling pressure has weakened. The day before yesterday, when Bitcoin reached a local peak, the net outflow from several strong indicative ETFs, including FBTC, ARKB, and BITB, was $169.4 million. Yesterday, during Bitcoin's sharp decline, these three ETFs had a total net outflow of $23.2 million, indicating a noticeable decrease in ETF selling pressure;

2. From the volume-price relationship perspective, after Bitcoin broke the 100,000 mark, the selling volume during the decline decreased, while the buying volume during the rebound increased, showing weakened selling pressure and some recovery in buying interest;

3. Bitcoin has not broken the MA30 support level;

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