From a technical perspective, Bitcoin has pulled back from its 76,000 high, and bears have completely dominated the short-term momentum.
Yesterday, influenced by US stock correlation and Federal Reserve policy expectations, the price retreated significantly, probing lows near 70,400, and is currently consolidating weakly around 71,000. The previous oscillating uptrend pattern has been completely broken, and after the triangle consolidation zone broke down, the bearish trend has been clearly established.
On the 5-minute chart, price is repeatedly under pressure around the mid-line, with weak at
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