As of June 9, 2025, 12:47 PM, the price of Bitcoin against the Chinese Yuan is 758,241.88 CNY, down 455.21826 CNY from the previous day, a decrease of 0.06%. Market value is 150,866.6 billion CNY, with a 24-hour volatility of 1.45%, a maximum of 765,032.10 CNY, a 24-hour trading volume of 279.99 billion CNY, and a minimum of 754,083.37 CNY, with a 24-hour transaction volume of 360,000.

From a technical perspective, last week Bitcoin formed a long lower shadow bullish candle on the weekly chart, slightly breaking the 7-day moving average. This week, it is crucial to pay attention to the support level at 94. The daily chart shows a downward trend over the past half month, with the first step bottom at the 107 level, currently near the top of the second step. On the 4-hour chart, last week exhibited a typical V-shaped double top pattern, and now it has formed two consecutive larger bearish candles, indicating that there is still downward space in the market.

In terms of market dynamics, Nasdaq has submitted an application to the U.S. SEC to include some cryptocurrencies in its index, signaling a move towards legalization, which may indirectly benefit Bitcoin. Additionally, the probability of the Federal Reserve maintaining interest rates unchanged in June is as high as 99.9%, providing some stability to the cryptocurrency market.

However, there are some uncertainties in the Bitcoin market. The strong non-farm payroll data from the U.S. has significantly reduced market expectations for a Federal Reserve rate cut, which may exert some pressure on the cryptocurrency market. Moreover, TheBlock data shows that the number of newly created addresses on the Bitcoin blockchain has significantly shrunk, reaching the lowest level since 2018, indicating a decline in retail interest.