Analysis: BTC $74000 is a key support level, and attention should be paid to the policy statement of Federal Reserve Chairman Walsh

According to TechFlow, on May 18th, according to The Block, Bitcoin fell below $77000 on Sunday night Eastern Time, hitting a low of $76593. Analysts point out that the main inducement is that US President Trump issued a threat to Iran on Truth Social, stating that if the peace agreement continues to be delayed, military action will be taken against it, causing geopolitical risks to escalate. At the same time, Brent crude oil rose 1.78% to $111.2 per barrel, and WTI crude oil rose 2.2% to $107.7 per barrel, as the market was concerned that oil prices would push up inflation and prompt the Federal Reserve to restart interest rate hikes. In addition, the Bitcoin ETF recorded a net outflow of $1 billion last week, ending six weeks of consecutive net inflows, and the Fear Greed Index fell back to the "fear" range of 27. Analysts say that in the short term, Bitcoin will be highly linked to the macro market, with $74000 as a key support level. It is important to pay close attention to the policy statements of the new Federal Reserve Chairman Walsh and the progress of the Cryptocurrency Clarity Act.