Overnight Bitcoin market initially declined then rebounded, demonstrating a clear pattern of shakeout and strong recovery. The market experienced sharp fluctuations following a gap up in the US stock market, reaching as high as 69,700 before quickly dropping to around 68,400, forming a "Heaven and Earth Pin" pattern. This move effectively cleared short-term floating positions and confirmed 68,400 as a key support level.

The critical turning point was the sustained increase in buying volume, which pushed the price steadily higher and firmly stabilized above 69,700. This not only indicates strong support below but also shows that market buying power remains dominant, turning the unfavorable volatility into a solid bottoming and rebound.

Currently, the technical structure is leaning bullish, with the price back above the key level and short-term moving averages arranged in a bullish pattern. If the price can stay above the 69,700-69,400 support zone, it may continue its sideways upward trend after consolidation, challenging the 70,000-70,500 region. #当前行情抄底还是观望？ $BTC