With the sharp rise of US stocks last night, BTC only rebounded to 64,800 at its highest, and the highs were getting lower and lower. At the same time, there was a drop in the morning, and a small amount of chips fell by nearly 2,000 points, breaking the previous lows, and the lowest touched 62,400. The overall volatility and demand of the market are very weak, and the overall weakness is mainly oscillation.

In terms of the big cake ETF, Grayscale's outflow is still continuing, but IBIT's inflow has stopped, and there is no new demand in the market. We have said before that Grayscale's chip prices are all low-priced, and the spot ETF has given these chips liquidity. Their chips are all low-priced profit-taking. At present, Grayscale's holdings have been reduced by half, less than 30w pieces, and can only wait for new opportunities to inject liquidity into the market, such as interest rate cut expectations, Ethereum ETF expectations

From the graphics, the overall trend is weak at present, whether it is the daily level or the 4 At the hourly level, there is a downward trend. Combined with the poor liquidity on the market, if the liquidity cannot be stimulated upward, it will test the liquidity downward. Be alert to the subsequent pin-spiking behavior. At present, the market sentiment is low, the participation is low, and the space below is not large. Even if it falls below 6w, the longs that are cleared are limited. At present, bloggers on the market have shown a consistent bearish situation. Panic is often an opportunity. This position is an opportunity to continue to layout spot.

In terms of points, the short-term support below is 62000 60000

The short-term resistance above is 65000 67000

In terms of operation, the range of 62000-63000 can be regarded as a small-level support, and the area where the previous round of bottoming out quickly rebounded. Stabilization ideas, the market stabilizes at 63000, you can try to layout, and the low-absorption idea needs to wait for the pin to go down to 60000-61000 before entering the market