The Bitcoin futures recently reached a high of around 73,800, setting a new high for the phase. The major cycle previously experienced a unilateral upward trend, continuing to rise after the US-Iran ceasefire news.

Yesterday, US-Iran negotiations broke down, and combined with the Bitcoin futures themselves being under pressure to pull back, bearish factors accelerated the sharp drop. It fell by more than 3,000 points in a single day, hitting a low of 70,500, and returned to around 71,000.

With external bearish news, the trend has shifted from rising to falling, showing a unilateral downward trend. There may be a small rebound in the short term, but it does not change the overall downward trend; the main strategy is to short at high levels.

Short Bitcoin futures around 71,500-72,300, targeting 70,000-69,000

Short Ethereum around 2,230-2,270, targeting 2,160-2,1000$BTC $ETH