May 6 Market Analysis

The Bitcoin spot ETF has resumed a net buying trend. Notably, there were no outflows from any institutions last Friday, with BlackRock inflowing more than 6,000 bitcoins, achieving a continuous net buy for 14 consecutive working days.

Although buying pressure remains strong, the net buying power of U.S. investors in week 68 has decreased by about 40% compared to week 67, and the market's enthusiasm for chasing prices has明显 cooled. Even without any significant negative news, prices may remain volatile in the short term.

Bitcoin (BTC) is below healthy levels on the 1-hour and 4-hour charts, while the daily chart remains healthy. A downward trend is expected during the day.

Intraday support levels: 91880-90880

Upper resistance levels: 95200-95700

Ethereum (ETH) is below healthy levels on the 1-hour and 4-hour charts, while the daily chart remains healthy. A downward trend is expected during the day.

Intraday support levels: 1735-1685

Upper resistance levels: 1845-1875