After the cryptocurrency market broke a new high on March 13, it started a long period of volatile market.

Today is June 4th, and it is still in this volatile range, and the price is still the same, but everything has changed. The market is not as high as before, and everyone has become much more cautious. They are always worried about another deep dive, and they keep waiting or making small moves, and stop when they see good results. People who play short-term around them should find that they have made good profits recently, because this market is suitable for people who play with the market.

When Bitcoin hit $70,000 again and Ethereum hit the $4,000 mark again, the market suddenly became "deserted". The fundamental reason is the lack of market liquidity. The on-chain transfer of Bitcoin on weekdays is even only tens of thousands, which is similar to the bear market in early 2023. The gas of Bitcoin and Ethereum has dropped to a historical low, and the market's willingness to buy and sell is very low.

Bitcoin ETF has been hyped. Wall Street institutions hold about 850,000 BTC. There has been no large-scale net inflow of funds in the past month, and the issuance of stablecoins is no longer impressive, indicating that funds are not willing to continue to buy on a large scale at this stage. Although the Ethereum ETF has been approved, it has not yet been officially traded. However, judging from the fact that the Bitcoin ETF hype has been brewing for half a year, and the net inflow of funds is nearly 14 billion US dollars, which has maintained the price of BTC at the high point of the last bull market, the approval of the Ethereum ETF was too hasty and not brewed, and the price has reached 4,000 US dollars, which is not far from the high point of the last round. The proportion of funds that can net flow into the Ethereum ETF in the market is estimated to be significantly weaker than BTC, and the ETF has not been approved yet, and funds are not coming in at present, so there is not much room for Ethereum to continue to rise sharply.

Bitcoin's weekly line is expected to break through the pattern, the trading volume is slightly less than last week, and the MACD is still at a high level. The trend will still be dominated by wide fluctuations this week. There is no sudden drop for the time being, so there is no need to worry. Bitcoin is also oscillating at the daily level. The daily line has been a cross star for several consecutive days. The price fluctuation is very small. The price and the MA30 line are still close. It is expected that it will take a few days to stick together. After that, we expect a relatively good upward trend, with a pressure level of 73,000 and a support level of 66,092.#BTC走势分析