Today is June 4th, BTC price 64685 It's not the Air Force that defeated BTC, it's the technology stocks. Yesterday, BlackRock had 5130 BTC outflows, which were institutional chip redemptions followed by selling. On the one hand, everyone is aware that funds are leaving the cryptocurrency market and entering the deterministic trend of technology stocks. On the other hand, institutional positions all have stop loss lines, and if they fall below, strict stop loss measures will be implemented. What happened last night was institutional redemption. For several consecutive days without closing the market, but constantly posting trend charts and requesting "not to build positions on the left side", the meaning of building positions on the left side is to buy or go long during a decline. Essentially, one wants to die and survive, and there will always be a time when they will make up for themselves. Combining technical aspects, once the middle line forms a downward trend, as shown in Figures 1 and 2, once the inventory is confirmed, the bearish arrangement on the middle line means that the short-term market cannot go well, and it will take at least a period of horizontal trading at the bottom. And after increasing volume, the medium-term moving average will start to re aggregate. The current rhythm of the market is that stocks rise and feed the Bitcoin community, while stocks fall and Bitcoin will follow suit. Institutions and individuals are equally focused on technology stocks, which is market inertia. Even if stocks plummet, institutions will sell BTC to replenish their positions. When can this situation end? The price is low enough. Yesterday, several brothers asked me if 67000 is the bottom line, and the answer was that if 74000 has no funds entering, then 67000 will not have funds entering either. At present, we have clearly seen two institutional redemptions by BlackRock, and my concern is how many more institutions will leave due to falling below the stop loss line. This is uncertain, and there should be a concentrated stampede. Because the cost will not differ significantly. Finally, the same sentence remains: do not build positions on the left side of the spot market. The contract needle should move quickly, and the market distance needs to be sufficiently low. At least a large sideways trend is needed to confirm the degree of institutional redemption. Give up luck and illusions. Furthermore, unlike in the past, we now have to turn around and play with currencies that do not follow the trend of the big pie, such as AI series WID FET, privacy coins, and strong Zhuang coins.