The cryptocurrency market has been dominated by bears for more than 12 consecutive days, and this decline is markedly different from previous ones in that there has been almost no significant rebound. The entire market has fallen into a cycle of “decline—sideways—decline—sideways,” lasting nearly half a month. During this time, there were several short-term bullish resonances that should have had the conditions for a rebound, but ultimately all ended in sideways movement, gradually eroding market sentiment.

From the daily chart structure, the market actually entered a bottoming cycle as early as May 17, but the issue is that this time it wasn’t a “bottom means reversal,” but rather a typical case of “bottom dullness followed by further declines.” As time passed, the bears not only did not weaken but instead expanded their declines by taking advantage of the market's desperate sentiment.

Until yesterday, Bitcoin and Ethereum both broke through critical lifelines. Bitcoin once fell below 75000 and plunged nearly 1000 points, while Ethereum dipped below 2050 and continued to drop 43 points, with the technical structure nearly fully breached. Just when market sentiment was on the verge of collapse, a familiar scenario reappeared—signals of easing from the US-Iran negotiations and news of “possible agreements” quickly ignited market sentiment.

But this time, the news was merely the fuse; what was truly critical was that the market itself was already at a tipping point of bullish cycle resonance. After an oversell, emotional freezing point, and extreme concentration of bear profits, any positive news was enough to trigger a rebound from fund inflows. Ultimately, funds quickly flowed back during the night session, not only recovering all the day’s losses but also continuously breaking through several key resistance levels in between.

This round of market activity once again proves one thing:
The real danger has never been a decline, but the moment when everyone begins to believe “it won’t rise.”
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This article is originally published by 【Huiying Community】 and represents personal views only. Due to a certain delay in information transmission, the content is for reference only and does not constitute any investment advice; please make rational judgments and operate cautiously.
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