Evening market report: BTC falls below the 70000 mark, where is the next target? 】 Bitcoin has started to experience a sustained and smooth decline, but this is just the beginning. After the price fell below the 70000 mark, the $500 million long funds have been cleared completely, and the long positions have been fiercely targeted! 1. A set of core data overview. BTC current price: $69500 24-hour amplitude: 4.73% (high fluctuation) Daily trading volume: approximately 6.86 billion US dollars 24-hour stock explosion across the entire network: $744 million (over 150000 people) Fear and Greed Index: 23 (Extreme Panic) 10-year US Treasury yield: 4.45% -4.60% The ETF has had a net outflow for 10 consecutive days, with a cumulative outflow of approximately $2.97 billion. In May, the monthly outflow of $2.3 billion set an annual record. 2. Market status: Bears are absolutely strong, and key support is being tested. 4-hour continuous bearish entity, with high trading volume and active bearish selling. The price has fallen below the strong gravity level of 0.382 and 71000, indicating a bearish technical structure. We are currently testing the 68000-69000 multiple resonance zone: 0.5 retracement level (68900)+200 week EMA (69000)+early intensive trading zone. This is the last line of defense in the short term. 3. Chain signal: Institutions retreat, giant whales reduce holdings. ETFs have experienced net outflows for 10 consecutive days, with institutional funds continuing to withdraw. Strategy has sold BTC for the first time since 2022 (32+411 transferred to Coinbase), which is an important emotional signal. Last week, the number of whales holding over 1000 BTC decreased by 6, resulting in a net reduction of approximately $440 million. Miners continue to sell, with long-term holders investing approximately 12000 BTC daily over the past 30 days. 4. Macro environment: High yields continue to suppress. The yield of 10-year US Treasury bonds is 4.45% -4.60%, and the yield of 30-year bonds is over 5.14%. Risk assets are under pressure in a high-yield environment. Data such as non farm payroll on June 5th, CPI on June 10-11, and FOMC on June 16-17 will be released, and we will see the reaction before entering the market. 5. Current trading strategy. Current operation: Empty position waiting for 68000-69000 test results. Short term short selling: Wait for the rebound to be blocked at 71000-72000 before entering, stop loss 73000, target 68000 → 65000. Short term long (aggressive only): 68000-69000 shows a high volume long lower shadow line+low volume cross line, can be tested for small positions (within 5%), stop loss 67500. I do not recommend going long against the trend of the weekly 5th wave main downtrend market. However, some friends like to lick the blood with their knives. Even if it's too short, you need to fast in and out. Mid line layout: Consider building positions on the left side in batches after the price drops below 50000. The current price is still far from 50000. 6. The final warm reminder 69500 is not the bottom. 68000-69000 is the battle zone for long and short positions - effectively breaking below, looking at 65000 → 60000; Get support, rebound to 71000-72000 and continue to be bearish. Our predicted ultimate target price for BTC decline in this bear market is around 45000 yuan, and in extreme cases, the price may reach 38000-40000 yuan. Take advantage of the situation and do not rush for a rebound. Wait for the market signal, patiently wait for the bottom before buying. The only correct action now is to watch more and move less. Bitcoin BTC 3D Integrated Trading Analysis: Bear Market in the Coin Industry