$BTC 4.20 BTC Market Analysis, I also mentioned yesterday that the dense area of main funds around 750 during the session, going long to buy north, also gained 1000 points. However, the price retreat in the morning and later was more influenced by crude oil prices, expectations of interest rate cuts cooling down, which is bearish for BTC!

By analyzing on-chain main funds, a few points can be observed: recently, main funds are gradually decreasing, meaning more outflows than inflows! This indicates that the selling pressure from main funds is relatively strong, making it difficult for the price to rise significantly in the short term!
Technically, on the hourly chart, there is a oscillating downward trend. Yesterday, after touching 750 and rebounding, the price also tested the resistance at around 762 and then fell back!
Currently, the quote is around 743. It has entered the previous dense area of main funds, and as mentioned multiple times on Friday and over the weekend, if the lower support at 738 breaks below the real body, a vacuum zone will form.
However, the market showed a small rebound after dropping to 737, but the strength was weak. Therefore, the overall intra-day trend still has downward momentum.
Trading suggestion: rebound to short, intra-day can operate around 748-750 to go south, targeting 738-728! #GatePreIPOs首发SpaceX