Recently, the market has been extremely volatile, and Bitcoin's (BTC) movements have been nerve-wracking. From the K-line patterns, Bitcoin is likely to experience a devastating drop below 95,000 in the coming days, and all altcoins will also face a bloodbath. Behind the seemingly inevitable crash, the whales have long laid their traps, waiting to harvest the last wave of panic funds from investors.

Technical Analysis: K-Line Patterns Suggest Imminent Crash

From the K-line patterns, Bitcoin's movements have entered a typical top divergence structure. Although there has been a short-term rebound in recent prices, the overall structure still remains within a downward channel, especially the formation of a high-level consolidation area, which is a precursor to the impending crash.

  1. Top Divergence Signal
    In the past few days, Bitcoin has been trading sideways in the105,000–107,000range, and during this high-level consolidation, the trading volume has been continuously shrinking, indicating weak buying interest in the market. Combined with technical analysis, we see Bitcoin's price continuously reaching new highs, whileindicators like RSI and MACD show signs of top divergence.This means that the upward momentum is nearing exhaustion, and the market could experience a significant correction at any time.

  2. Key Support Level: 95,000
    As the price breaks below previous support levels (around 103,000), Bitcoin's downward potential has further opened up. Currently, this crucial support level of95,000could become the next critical price point. If this level is breached, Bitcoin will further decline towards90,000 or even 85,000.

Market News: Dual Pressure from Macroeconomics and Capital Flows

  1. Geopolitical Risks:
    Tensions between the United States and Iran continue to escalate, and global risk aversion remains high. This uncertainty has prompted funds to flow into more secure assets like gold and the US dollar. Compared to these assets, Bitcoin, as a high-risk asset, faces pressure from capital outflows.

  2. Federal Reserve's Monetary Policy:
    The direction of the Federal Reserve's monetary policy remains the focus of the market. Powell's recent statements lean towards a 'wait-and-see' approach, without providing clear signals for interest rate cuts. Even though expectations for rate cuts still exist,the continuation of the rate hike cycleandthe high interest rate environmenthave led to a decrease in funds flowing into the crypto market, suppressing Bitcoin's gains.

  3. Capital Outflows and ETF Delays:
    The US Securities and Exchange Commission (SEC) continues to delay the approval ofthe Polkadot ETF, hindering the inflow of institutional funds. The recent inflow of Bitcoin ETF funds has also not met expectations, which will undoubtedly weaken market confidence.

Chain Reaction of Altcoins: A Bloodbath is Coming (I have emphasized reducing positions since June 12, and those who are out should wait for opportunities)

With Bitcoin's sharp decline, altcoins inevitably face more severe halving risks. Currently, the overall performance of altcoins remains weak; although there has been a recent rebound, the high-risk nature of the crypto market cannot be ignored. Most altcoins lack strong market support and substantial applications, and once Bitcoin experiences a significant drop, their declines will be even more severe, potentially leading to widespread liquidations.

  1. Market Panic Sentiment:
    If Bitcoin falls below 95,000, market panic will further spread, exacerbating the outflow of funds from altcoins. All short-term speculation and trading will vanish in an instant, leaving only ruthless losses.

  2. Unsupported Altcoins
    Currently, many altcoins have no real market value support, poor liquidity, and extreme price volatility. Investor confidence has long been eroded, and with Bitcoin's sharp decline, the rebound of altcoins will become even weaker, likely triggering a new 'bloodbath' market.

The 'Harvest Moment' of the Whales has Arrived

The sharp decline of Bitcoin is not accidental. Through the recent days of turbulence, the whales have prepared for harvesting. When market sentiment turns to panic, whales often accumulate at low levels and sell at highs, capturing the retail investors. Now, as Bitcoin gradually breaks below support levels, the whales will once again initiate their harvesting plans.

Conclusion:

The current market situation is very clear; Bitcoin is about to face a sharp decline, while altcoins will also experience a bloodbath-style halving. For investors, maintaining a cautious wait-and-see approach in the short term and avoiding blindly following trends or going all-in will be the best strategy to prevent losses. The market is highly volatile, and uncertainties are constantly emerging; making decisions after the market situation becomes clearer is a wise choice.

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