Good afternoon everyone, I am Fang Yuan The market is still in a downward trend. However, there is a high probability that a rebound will first occur today, filling the gap around 72,000. After that, the decline will be resumed. Big cake (BTC) fell from the 73,700 level yesterday, gradually moving downward. It hit the support level near 70,000 at its lowest point, then stopped falling and rebounded. The single-day drop exceeded 3,000 points. Today, a parallel bottom formation has formed around 70,000 and has started to rebound. You should note that parallel bottoms and parallel tops are essentially the main players’ commonly used methods to lure traders into long or short positions. In the future, they are often broken either way—either broken down or surpassed upward—so the probability that the subsequent move will break below the 70,000 support level is extremely high. The next trend is basically clear: 73,700 is essentially the stage top of this rebound. High levels like 76,000 and 78,000 are basically difficult to reach. The current 1-hour and 4-hour upward structure has been destroyed. The price keeps making new lows, which is a typical signal of a bearish decline pattern. It’s just that a higher high lower than the current one has not formed yet. It is expected that this structure will play out today. In terms of the overall rhythm, today is likely to first rebound to fill the daily-level gap near 72,000. After the fill is completed, it will continue moving downward, breaking the parallel bottom near 70,000, and officially establishing a downtrend. The above is only my personal views on market analysis and does not constitute any investment advice. $BTC $ETH $SOL

#Gate广场四月发帖挑战 Today’s Cryptocurrency Hot News 📉 Market Plunge and Geopolitical Risks Affected by the breakdown of US-Iran negotiations, the crypto market declined across the board. Bitcoin temporarily fell below $70.6k, with over 140k traders liquidated in the past 24 hours (amounting to approximately $281 million). Major coins like ETH and SOL also dropped more than 3%. 🇪🇺 EU Regulatory Authority Proposal The European Central Bank supports the proposal to transfer regulatory authority over large cryptocurrency companies (such as major trading platforms) from member states to the EU market regulator (ESMA), to curb “regulatory arbitrage.” 🇰🇷 South Korea Recommends Circuit Breaker Mechanism South Korea’s central bank suggested in its annual report to introduce a “circuit breaker” similar to stock markets on exchanges, to limit abnormal volatility and manage market risks. 🏦 Institutional Funds Flow Against the Trend Despite the price setbacks, Bitcoin spot ETFs recorded a net inflow of $786 million last week (the strongest weekly inflow since February), indicating that the long-term fundamentals for institutions remain positive.

👀 UPDATE: Alameda just unstaked 198,425 $SOL worth $16M and moved it to FTX's bankruptcy wallet. These have been ongoing since late 2023 under the court-ordered $12.7B repayment plan tied to the collapse of SBF's empire. So far, $7.6B has been returned to creditors, but $5.1B is still owed. Despite ongoing sell pressure, $SOL is still their largest holding with 3.57M tokens worth over $293M. #crypto