On April 9, Beijing time, the Federal Reserve's March FOMC minutes were officially released, and the content was comprehensively more hawkish than expected: inflation expectations were raised, 7 members supported no rate cuts until 2026, and Powell stated for the first time that "rate hikes cannot be ruled out." Given the historical 75% negative probability, the crypto market should have plunged sharply, but BTC only fell slightly by 1.18%, stubbornly holding the key level of 70,000 USD, demonstrating strong resistance to decline.

The market appears strong, but there are undercurrents. Today's Pro research report core reminder: BTC price has severely diverged from ETF fund flows. On April 7 and April 8, BTC ETF saw net outflows for two consecutive days, totaling up to 227.74 million USD, with institutional funds continuously retreating above 70,000, which is the most dangerous signal in the current market. A rebound lacking institutional support may face a secondary correction at any time.

The derivatives market has completed healthy deleveraging, with the overall market OI down by 2.53%, and funding rates have significantly cooled from overheating, with the scale of liquidations halved; the market is in a silent period before a potential shift. There is also hidden pressure on-chain, with 42,000 BTC flowing into exchanges in early April, and the potential selling pressure has not yet been digested.

Meanwhile, the Jupiter-Uranus conjunction window officially opens from April 9 to 11, and historically, significant market shifts have often occurred during this cycle, resonating with the current structure of BTC holding at 70,000. The next 48 hours will determine the mid-term direction.

Preview ends — the complete report also includes: in-depth verification of the effectiveness of BTC's 70,000 support and conditions for failure, the true implications of consecutive ETF outflows and subsequent tracking indicators, long and short structure analysis after the completion of derivatives deleveraging, on-chain selling pressure, stablecoin expansion, and full data interpretation of DeFi, probabilities and timing of market shifts in the Jupiter-Uranus astronomical window, four major practical scenario frameworks, key support and resistance, and position suggestions, a twelve-dimensional signal dashboard, historical signal review, and comprehensive judgment.

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(This article is a preview of paid content, showing only the core framework and some key data; for complete analysis, please join the group for reading.)

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