BTC Market Analysis Looking at the current 1-hour chart for BTC, the overall structure is bearish, with the price having fallen to around $68,700. Both spot CVD and futures CVD are accelerating downwards, dropping to -11.7K and -28.8K respectively, indicating active selling pressure in both the spot and futures markets. The good news is that the Funding Rate has decreased significantly compared to yesterday and the day before, but OI (Open Interest) continues to rise, indicating that new contract positions have exceeded closed positions during the price decline. Combined with the continued decline in Futures CVD and the continuous drop in Funding Rate, a large number of active short sellers are entering the market, pushing BTC further down. For the decline to stop, we need to see short sellers increase their short positions, forcing long positions to capitulate. The spot CVD is also deteriorating rapidly, indicating that this decline is not only due to short selling in the futures market but also significant selling in the spot market. Therefore, I think 67,000 will definitely hold and there will be a rebound to 73,000-74,000. If it falls below that, it will retrace and then fall again.