Today's market liquidity conditions Currently, both Coinbase and Binance are in a sideways trend. Actually, it also conforms to yesterday's sideways trend in the US market. Overall, I am still waiting for Wednesday's CPI direction to be determined (please refer to my report from the past two days for details) I posted a message two days ago stating that there are increasing signs of unilateral completion . The final confirmed signal is that ETFs can reduce net outflows . From Monday's perspective, this has been further confirmed. Yesterday, the net outflow of ETF was 90 million yuan (much better than last week's selling pressure of 3-5 billion yuan per day) Some radical FBTC ARKB have shifted their focus. (Figure 2) I conducted a small study, From a historical perspective, this type of day is still a net outflow, but on days with at least two net inflows such as FBTC/ARKB, the probability of turning into an overall net inflow in the next three and five days is 62% and 72%, respectively. This type of mid size fund's transition can form a pattern, with 11 stages of early transition in the past, of which 8 stages were successful (confirmed transition) and 3 stages failed. So, Monday's shift towards net inflows for medium-sized funds is a signal worth considering (consider writing a dedicated article on this matter later) ---------- Order Book (Figure 3) The upper pressure is divided into two layers, with spot contracts ranging from 64 to 65k existing simultaneously. Initial support for 62k below. Yes, but not very thick. But recently, the bears haven't had enough selling pressure to break through this point. (Accumulated some liquidity, can observe SFP near 62k today) Further down, 60k dual exchange positions: Coinbase 63 Binance Spot 219 Integer threshold+dual consensus, the first decent way to take inventory. Continuing down, the same as yesterday, unchanged. 58 and 59k bulls fiercely defend the defense line. ------------- Structure (Figure 4) The 62k below is still a resonance point. POC+avwap+hanging units of orders+accumulating liquidity So today's first observation of the low to high position is around 62k (hanging above the unit or sfp) SFP will not enter the market if it falls through and does not retract. There is a high probability that 61k won't be able to reach any further outside today, so we won't draw the others. ------------ So today's plan for the day is the several intervals shown in Figure 4. Don't forget, there are recent signs of ETF turning. Just wait for CPI confirmation tomorrow. -------------- Key positions: $68000-12JUN maximum pain point (short-term magnetic suction) $66000- On chain weekly report benchmark rebound target lower edge+5/30 consolidation zone $64925- Spot Giant Wall Sale 13.7% -22.4%（ $64250-6/07 rebound high+upper stop loss cluster+sell order wall $63600- VAH (Upper Value Zone) $63300- POC (Volume Focus, Key Resistance) -- Current price $62647-- $62600- VAL (value zone bottom, current price) $62000- M15 Wall Purchase 1.1%/Psychological Position $61500- H1 wall purchase 1.1% $60000- spot giant buy wall 8.9%+stop loss cluster 10220+12JUN put wall+26JUN put wall $59082-6/05 Low rebound starting point $58000- H1 buy wall 1.1%+stop loss 2099+on chain weekly report $59-63K test lower edge