⚠️The calm before the storm? Bitcoin may fall into the "abyss of uncertainty," shattered bull market dreams or brewing explosions?

Bitcoin's recent market movements are shrouded in fog, with capital outflows, miner reductions, and diverging market expectations intertwining. Amidst the tug-of-war between bulls and bears, the price direction remains elusive.

📉Technical reversal? Fibonacci retracement + RSI suggests high-risk levels

After a strong rebound in April, Bitcoin has quietly entered the overbought zone and encountered resistance near the Fibonacci retracement levels. This technical signal indicates a potential short-term pullback—last weekend, the BTC price fell by 2.5%, suggesting market sentiment is starting to turn cautious.

💰$800 million in capital outflow! Short-term profit-taking is evident

In the past 48 hours, over $810 million has been withdrawn from the spot market, indicating accelerated short-term capital exit. Data shows that inflows to exchanges exceed outflows, with selling pressure greater than buying demand. Analysts believe this is a typical profit-taking scenario, with short-term bullish momentum significantly weakening.

⛏️Miners' sentiment turns bearish, adding pressure

Miners can't "hold on" anymore! Since the end of April, Bitcoin miners have been frequently selling, with approximately $2.79 million worth of BTC flowing out in the past two days. This behavior typically stems from price instability and mining cost pressures, further increasing market supply and suppressing price rebounds.

🇺🇸The U.S. won't buy Bitcoin? Market expectations face another blow

Although the market once held fantasies about the government's increased BTC holdings due to political statements, several industry insiders have recently poured cold water on this. Some analysts point out that the U.S. currently faces high debt and macro pressures, making it unlikely for authorities to include Bitcoin in core asset allocations.

🏛️Institutional investment still holds hope, but the pace may be slower than expected

Although progress at the federal level is slow, 25 states have proposed allocating some public funds to BTC. This indicates that despite the rocky road ahead, the wave of institutional entry may still quietly ferment.

✅Summary: Bitcoin is currently at a directional critical point!

High technical pressure, miner sell-offs, and capital withdrawal from the spot market collectively create short-term downside risks. However, in the long term, the potential layouts of institutional investment and local funds make it unwise to hastily declare a bear market. The next few weeks may become a crucial turning point in determining the market trend!