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JiaMiYing|Feb 06, 2025 13:01
Bitcoin (BTC) Market Analysis
Yesterday, the price trend of Bitcoin showed a "small bearish candlestick" with relatively low trading volume, reflecting a cautious market sentiment. From a technical perspective, this small bearish candlestick usually indicates that the market has experienced a balance of forces between long and short positions after a preliminary adjustment, and the market may enter a period of consolidation and oscillation in the short term.
On a macro level, the net inflow of US spot Bitcoin ETFs yesterday was $66.4 million, indicating that institutional investors' demand for Bitcoin allocation still exists. Given that the current market is in the stage of oversold rebound and repair, the price of Bitcoin is expected to further rebound in the short term. However, the strength of the rebound may be limited by overall market sentiment and technical pressures. If the rebound fails to effectively break through key resistance levels, the market may experience another downward correction to confirm the effectiveness of bottom support. Investors need to closely monitor changes in trading volume and breakthroughs in key support/resistance levels.
Ethereum (ETH) Market Analysis
The price trend of Ethereum closed with a "small bullish line" yesterday, and the trading volume was also at a low level, indicating limited market participation. From the perspective of fund flow, the US spot Ethereum ETF had a net inflow of $18.1 million yesterday, indicating that some funds are beginning to flow back into the Ethereum market. The current price is near the 5-day moving average, and the short-term technical form shows a rebound and repair feature.
From a technical analysis perspective, if the Ethereum price can effectively stabilize above $2860 and maintain it for more than 24 hours, the short-term upward target can be seen around $3100. However, considering that the overall market sentiment is still cautious, the sustainability of the rebound still needs further observation. If the trading volume fails to effectively increase, the rebound may be limited, and the market may once again enter a volatile consolidation pattern.
Comprehensive analysis and judgment
Overall, both Bitcoin and Ethereum are currently in the stage of oversold rebound and repair, with the possibility of further upward movement in the short term. However, the sustainability and strength of the rebound still need to pay attention to market sentiment, capital flow, and breakthroughs in key technical points. Investors should remain cautious in their operations, control their positions reasonably, and closely monitor market dynamics and changes in risk factors.
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