The US and Iran have reached a phased agreement, expectations for navigation in the Strait of Hormuz have eased, global risk aversion sentiment has cooled, and funds are flowing back into risk assets, directly driving BTC to rebound after hitting a low yesterday, which is the core support for the current market.
Spot ETF funds are slightly returning, and institutional selling pressure is weakening; however, retail investors have significant long-short divergences, with insufficient willingness to chase prices, primarily focused on existing capital games in the short term. The Federal Reserve's interest rate cut expectations remain cautious, US Treasury yields are fluctuating at high levels, suppressing BTC's potential for significant increases, making it difficult to break out of a one-sided surge.
Throughout the day, there has been slight fluctuation, with a minor dip over 24 hours, overall maintaining a high-level consolidation, waiting for directional choice. Indicator status: The daily line stabilizes above the short-term moving average, the MACD red bars continue, RSI is in a neutral range, with no overbought or oversold conditions, indicating a slightly bullish fluctuation, mild bullish momentum, and no one-sided trend.
The overall trend is primarily seen as a consolidation; any pullback can be viewed as a buying opportunity. It is advisable to adopt a bullish stance in phases around the bottom area of 76300-75800, targeting near the 77600 mark.
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