A series of bearish sentiment is gathering in the cryptocurrency market, with ETF institutions experiencing a net outflow of funds. It is highly likely that the market will fall below 60000 in the future! 1) The large amount of entrusted selling orders on the order book has begun to accumulate, and the amount of buying orders has significantly decreased; 2) The ETF has continued to experience net outflows, with a cumulative outflow of approximately $4.4 billion for 14 consecutive trading days, setting a record for the longest outflow since the product was launched in January 2024. In the first week of June, a net outflow of over 1.4 billion US dollars was recorded. This round of decline is a structural capital withdrawal, not an emotional fluctuation. 3) The long position can sharply decrease by half in four hours, and the short position can also sharply decrease. The main force of short positions is waiting for CPI data before entering the market, while the main force of long positions has already left; 4) At the daily level, the price rebounded to the Fibonacci retracement of 0.786, which is around 64500, and a bearish candlestick with a cross star appeared. Today, the daily line started to decline directly. 5) The CPI data in the United States is likely to exceed expectations, reaching 4.2%, and the core CPI data also exceeds expectations, which is definitely negative; 6) The World Cup will kick off on June 11th, and global attention will be focused on the tournament, with some funds flowing into the gambling table; 7) The Bank of Japan announced its interest rate hike decision on June 15-16, with a probability of up to 80%; This is a significant negative; 8) The Federal Reserve FOMC meeting on June 16-17, with interest rate cuts far away, may even be put on the agenda, which is definitely bearish; 9) The negotiation of a ceasefire between the United States, Iran, and Israel is a joke. It is unknown that a complete ceasefire agreement can only be achieved in the blink of an eye. The economies of many countries around the world are dragged down by inflation caused by high oil prices. I don't know how others came up with the logic that Bitcoin's price at 60000 is the bottom of this bear market. Anyway, I 100% don't believe 60000 is the bottom, and a Bitcoin bear market bottom of $40000 is likely to occur in the second half of this year.