Evening market report ETF has had a net outflow of over 2 billion US dollars for 9 consecutive days, and BTC prices are experiencing narrow fluctuations and accumulating momentum, making the future market precarious! 】 Let's first take a look at a set of data: 1. List of core data. BTC is currently trading in a narrow range of 72500-73800, accumulating momentum with a 24-hour low of $72582, hitting a 14 day low. It has fallen more than 9% from its peak of $81285 on May 15th. 24-hour liquidation of 755 million US dollars, 152000 people liquidated, with long positions accounting for nearly 90%. Fear and Greed Index 23 (Extreme Fear). 2. ETF has experienced 9 consecutive days of net outflows and institutional selling of BTC. On May 28th, the Bitcoin spot ETF had a net outflow of $229 million, marking the 9th consecutive trading day of net outflow. BlackRock IBIT had a net outflow of $178 million per day, with a cumulative outflow of over $2 billion. Institutions are retreating, not individual investors. Beile De was the first to bear the brunt and became the main force in selling BTC. Micro strategy and gray scale transfer to Coinbase Prime. In order to avoid becoming a sacrifice for this bear market, Micro Strategy has raised 411.48 BTC to Coinbase for selling today! On May 28th, Grayscale transferred 1530.704 BTC (approximately $112 million) to Coinbase Prime within an hour, which was a normal adjustment of exchange reserves, but market attention was once again drawn back to the institutional funding flow behind the ETF 3. Macro fundamentals: PCE hits three-year high, US Iran agreement pending approval. In April, PCE was 3.8% year-on-year (a new high since May 2023), and core year-on-year was 3.3% (a new high since November 2023). Inflation is running at a high level, and the shadow of interest rate hikes has not dissipated, which is a potential negative news for the US stock market and Bitcoin. The United States and Iran have reached a 60 day memorandum of understanding, which includes opening the Strait of Hormuz and lifting the blockade, but Trump has not yet approved it and still needs "a few days to consider". The probability of the Bank of Japan raising interest rates in June is about 75-78%, and the FOMC+Bank of Japan dual meeting on June 16th will clash. Next, let's take a look at the basic market conditions and trading strategies of Bitcoin: 1. Short positions are absolutely strong, while long positions can be sluggish. From the recent four hour volume fluctuation curve, it can be seen that the short position can continue to increase, while the long position is powerless to resist, and the long position can continue to decline. The counterattack is also a wave without sustainability. The 4-hour chart shows a continuous solid bearish candlestick, indicating an increase in trading volume. The zero axis price of the Fibonacci uptrend channel, which is 71200, is the next target. 72500-73000 is a short-term key support zone, and if it falls, it will accelerate towards 71200-70000. 2. Long positions are insufficient, with weak rebound, and ETF institutions continue to experience net outflows. At present, the price rebound of Bitcoin is weak, and any subsequent rebound is an opportunity to escape, as well as an opportunity for us to open or add positions to short Bitcoin and Ethereum. 3. Trading strategy. The fifth wave of weekly downtrend has already begun, there is no doubt about it. Don't hesitate, seize this unilateral downtrend, do a good job of stop loss and position management, act decisively when rebounding, patiently hold short orders, and leave the rest to the market. Short selling conditions: Bitcoin rebounds below 74000, and there are currently bearish signals of stagflation and weak rebound, with a phased layout. Continue to hold mid line short positions, with a target of 71200 → 70000 → 68000 → 60000-45000. Non investment advice, for reference only, profit or loss is at your own risk. BTC, Bitcoin 3D Integrated Trading Analysis, 5th Wave Open ETF Continuous Outflow