June 3, 2024

BTC fell below $67,134.80 last Friday, hitting a low of $66,670 before rebounding to $67,134.80, avoiding a decisive break. Today's early trading data fluctuated narrowly between $67,134.80 and $68,996.16, and the overall range narrowed.

Net outflow of $11.28 billion over the weekend. The drop to $66,670 on Friday caused the data to fall further, adding to the downward pressure. Early trading showed that the market fluctuated narrowly around $67,134.80 and $68,996.16, reflecting the continued fight for key levels.

Technical: MACD bearish divergence deepens, and negative energy bars indicate downward pressure. A break below key support levels could trigger a sudden drop, as seen on Friday. Reduced volume suggests consolidation rather than a decisive move.

Today's range: $66,461.02 - $68,996.16. The 3-day forecast range is $65,525.25 - $70,864.15. Narrowing volatility indicates the possibility of major fluctuations.

$67,134.80 does not currently hold any support attributes.

Daily indicators: 10% bullish, 90% bearish.

Long-short ratio: 1.91, slightly in favor of shorts.

Funding rate: 0.0106-0.012%, normal level.

Futures open interest: $341.7 billion, stable since Friday.

Greed index: 73, departure rate: 12%.

Overall, BTC faces downward pressure in the short term, and the range shrinks due to shrinking trading volume. Volatility may be large. The long-term trend is still bullish, but caution is needed in the short term. Consider risk management and position adjustment.

Macro: US core PCE in April was 2.8% year-on-year, in line with expectations, and 0.2% monthly (the lowest since December 2023), easing concerns about inflation. The September rate cut is expected to 46.4%. Closely monitor further macro developments.