2.5 Thursday Afternoon Market Analysis and Long-term Strategy

Since breaking below 78,000, Bitcoin has consecutively fallen through key levels at 75,000 and 73,000, with a low of 70,100. This week, the bulls have failed to mount a significant rebound. Currently, the price is clearly under the pressure of moving averages, and it seems unlikely that the bulls can reverse the trend!

News Highlights
US inflation data exceeded expectations, significantly cooling the Fed's March rate cut expectations. US Treasury yields have risen, continuously suppressing global risk assets. Coupled with international geopolitical tensions and a pullback in US stocks from high levels, market risk aversion has increased. Funds are continuously flowing out of the crypto market and into safe-haven assets like gold. The buying support for mainstream cryptocurrencies has notably dried up.

The 73,000 level above has shifted from support to strong resistance. Short-term rebounds are unlikely to reverse the downward trend.

Afternoon Trading Recommendations
Short positions in the 71,500–72,000 range,
Short-term target: 70,000 round number,
Long-term outlook: aiming for 65,000.