1. Today's Core News (July 17)
1. Institutional Updates: Citadel Securities to Crypto.com invests $400 million, with a total valuation of $20 billion. The funds will be used for the expansion of tokenized securities and derivatives businesses, marking a large institutional investment in crypto infrastructure recently, validating the long-term compliance value of the industry, but with limited short-term price impact.

2. ETF Fund Movements: The Bitcoin ETF recorded a net outflow of $425 million in one day, with fund flows fluctuating this week; however, BlackRock continues to accumulate at low levels, withdrawing 1,246 BTC (about $80.6 million) and 3,542 ETH (about $6.69 million) in a single day from Coinbase Prime; the Ethereum ETF ends an eight-week trend of outflow, showing marginal improvement signs.

3. Derivatives and Liquidations: According to CoinGlass data, over 80,000 people were liquidated across the network in the past 24 hours, with a total liquidation amount reaching $360 million; options worth about $1.23 billion are set to expire that day, and market volatility may increase before delivery.

4. Industry and Regulation: BitPay's Dutch subsidiary officially obtains the EU MiCA regulatory license and can offer compliant crypto payment services throughout the EU; South Korea tightens stock leverage ETF policies, and the global risk appetite declines, simultaneously impacting the crypto market.

5. Market Sentiment: The cryptocurrency fear and greed index is in the range of 28-31, maintaining a state of "fear/extreme fear", with overall market sentiment being cautious.

2. Overall Market Overview
As of July 17, 4 PM, the total market capitalization of cryptocurrencies is approximately $2.27 trillion, having dropped about 1.6% in 24 hours, with total market trading volume around $62 billion. Bitcoin's market share is 56.3%, Ethereum's market share is 9.88%, and mainstream coins are experiencing declines, with selling sentiment in US tech stocks being the primary short-term suppressing factor.

3. Market Analysis and Reference Points
1. Bitcoin (BTC)
• Technical Analysis: The price is operating below the 50-day moving average, with a weak short-term trend; RSI is in a neutral range, and MACD bullish momentum continues to decline; the price is narrowing in fluctuation, showing signs of forming a short-term consolidation pattern, with direction selection approaching.

• Key Support Levels
◦ First Support: $63,600 (intraday low + short-term dense trading area)
◦ Core Support: $62,500 (30-day moving average, medium-term bullish-bearish watershed)
◦ Extreme Support: $61,700

• Key Resistance Levels
◦ First Resistance: $64,400 (intraday rebound high)
◦ Second Resistance: $65,000-$65,500 (50-day moving average + upper edge of previous consolidation platform)
◦ Strong Resistance: $66,800

• Reference Thoughts
◦ Low Long: After the price stabilizes in the range of $62,000-$62,500, a light position can be tried for long, with a stop loss set below $61,700, first target $64,400, and after a breakthrough look for $65,500.

◦ High Short: After the price rebounds and encounters resistance in the $65,000-$65,500 range, a short position can be participated in, with a stop loss set above $66,000, targeting $63,600.
◦ Note: Options expiration today may exacerbate short-term volatility; light positions are recommended, with strict stop-loss execution.

2. Ethereum (ETH)
• Technical Analysis: The daily level maintains a bearish structure, continuously weakening after breaking the key support of $2,200; currently testing the previous low support near $1,830, if this level holds, a technical rebound can be expected.

• Key Support Levels
◦ First Support: $1,820 (recent low + psychological barrier)
◦ Core Support: $1,780

• Key Resistance Levels
◦ First Resistance: $1,930 (short-term rebound target)
◦ Second Resistance: $2,000 (integer barrier + strong selling pressure area)

• Reference Thoughts
◦ Low Long: After the price stabilizes in the range of $1,810-$1,820, a light position can be tried for long, with a stop loss at $1,800, first target $1,930, and after a breakthrough look for $2,000.
◦ High Short: After the price rebounds and encounters resistance in the $1,920-$1,950 range, a short position can be taken, with a stop loss above $2,000, targeting $1,850.

3. Solana (SOL)
• Current Price Range: $74-$76, with a 24-hour decline of about 1.3%-2%, moving in tandem with the market, volatility higher than BTC
• Technical Analysis: Currently in a downward phase of consolidation, buying power is weak, and clear stabilization signals need to be awaited; ecosystem enthusiasm is marginally cooling, with funding attention receding.

• Key Support Levels
◦ First Support: $72
◦ Core Support: $68-$70 range
• Key Resistance Levels
◦ First Resistance: $78-$80
◦ Second Resistance: $85-$90 (medium-term strong resistance area)

• Reference Thoughts
◦ Low Long: After the price stabilizes in the range of $74-$75, a light position can be tried for long, with a stop loss below $72.5, first target $78-$80.

◦ High Short: After the price rebounds and encounters resistance in the $79-$81 range, a short position can be taken, with a stop loss above $83, targeting $72-$73.

◦ Note: SOL is a high-volatility asset; it is recommended to maintain a lower position than BTC/ETH, and participation is not recommended for those with weak risk tolerance.

4. Overall Operation Alerts

1. The current market is in a phase of weak sentiment and fluctuation, with no clear unilateral trend, heavy positions for chasing rises and falls are not recommended, focusing mainly on light-position range strategies.
2. All trades must set stop losses to avoid significant losses from extreme market movements.
3. Closely monitor US stock trends, dollar index movements, and ETF fund flows, as these are the core driving factors for short-term market movements.
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