The Bitcoin market is experiencing intense battles! On the four-hour candlestick chart, the MA5 moving average has pierced down through the MA10 moving average, forming a death cross, reminiscent of the sword of Damocles hanging overhead; the MACD indicator's green bars are continuously shrinking, almost invisible, this ambiguous signal leaves investors in a dilemma—whether it is a brief calm before the crash or a violent washout meticulously arranged by the market makers?

Sudden heavy news in the market has caused a stir! First, a large holder transferred 11,000 bitcoins to Coinbase, worth up to $480 million, setting a record for the largest single transfer of the year, suspected of cashing out; furthermore, market makers quietly sold 6,500 bitcoins in the over-the-counter market and quickly placed a limit sell order at $43,800 on Binance, this operation is clearly intended to set a harvesting trap in the market.

Meanwhile, the external environment is also not optimistic. The U.S. SEC has once again delayed the approval of the Bitcoin ETF, and panic sentiment spreads instantly, with the fear index soaring by 12%, leading to a $3 billion evaporation in the market value of altcoins. From a technical perspective, Bitcoin's trading volume moving average shows a bearish arrangement, and the divergence between volume and price is significant, with main funds suspected to be offloading through wash trading. The futures market is also under pressure, with a 24-hour liquidation rate for open contracts reaching 12%, and large funds are withdrawing leverage to hedge. Various signs intertwine, indicating that tonight's cryptocurrency market may face a bloody battle between bulls and bears.