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Market Analysis on June 6, 2025

Market Dynamics:

Yesterday, Bitcoin (BTC) faced resistance and fell back after rising to the 106 level, closing with a bearish candle on the daily chart and breaking below the 30-day moving average and the key support at 103, reinforcing the bearish trend. Weak macro data (ADP, inflation, non-farm payrolls) combined with rising market risk aversion (gold prices rising) triggered a chain liquidation due to high leverage trading, while increasing regulatory uncertainty heightened panic, leading to a significant overcorrection during the US trading session. Ethereum (ETH) weakened in sync, closing with a solid bearish candle on the daily chart, breaking below the top of the 2540 range, triggering a waterfall market. The altcoin market was also affected, with strong coins like OP breaking below defensive levels, showing clear signs of capital outflow.

Technical Analysis:

BTC: The daily chart broke below the 30-day moving average, with the 7-day moving average extending downward, dipping to the 100,000 mark in the early morning, and short-term support has shifted down to the 95 level. The 4-hour chart shows a significant drop following a high, indicating a bearish technical outlook.

ETH: The daily chart broke below the 30-day moving average, with support temporarily seen at the 2280 level; if broken, it opens up further downside. The 4-hour chart also shows a significant decline, stabilizing at 2400 points, with a weakening technical outlook.

Altcoins: The characteristics of a phase market are significant; breaking below key support requires decisive exit to avoid prolonged battles.