Dear coin friends, I am Zhao Gongming. Looking at the BTC market, doesn't it feel eerily quiet, with the price seemingly nailed at 87000? Don’t be fooled by the surface calm; the real storm is hidden in the funding data. Follow Zhao Gongming, and I'll tell you plainly that large funds are quietly withdrawing.
News: Institutions are voting with their feet, the outflow wave continues
Today's core message is clear: Bitcoin spot ETF has seen a net outflow for the third consecutive day, with $142 million leaving just yesterday. This is not retail behavior; it's Wall Street institutions 'voting with their feet'. They are the smartest money in the market, and their continued withdrawal is a huge alarm.
Spot market: In the past hour, there was a net outflow of 15.46 million USD, and over 40 million USD in the past four hours. This indicates that not only ETFs, but other large holders on-chain are also selling synchronously.
Futures market: There was a net outflow of up to 168 million USD in the past hour. This means that leveraged funds are not only bearish but are also crazily increasing short bets or closing long positions.
The spot and futures markets are forming a "double bloodletting"; ETF funds are continuously flowing out, which is a top-level bearish combination. The market is losing its most important buying support.
Technical perspective: Overall bearish, every rebound is an "escape window"
The 1-hour chart clearly shows a standard downward trend. From the 30-minute to the 1-week timeframe, all technical indicators uniformly signal "strong sell." The price is squeezed between two key positions, as if caught between them:
Upper iron top: 87500 (this is the first ghost gate of the rebound; breaking here can alleviate the downward trend)
The cliff below: 84400 (the last psychological defense line; breaking this will directly trigger technical selling)
MACD has a death cross below the 0 axis, with green bars turning red; the downward momentum is not only not weakening but is also strengthening. This is not an adjustment; it is a confirmation and acceleration of the downward trend. All rebounds towards 87500 are just the main force pulling up the price to sell their holdings to you, like a "fishing line."
If Zhao Gongming's cruel but realistic dissection has made you alert, please follow and stop having any illusions about rebounds.
Zhao Gongming's views and operational suggestions
Zhao Gongming's judgment is very simple and direct: under the backdrop of continuous outflows from ETFs and major funds, the downward trend of BTC is hard to reverse. The core task from tonight to tomorrow is to observe how it will drop towards 84400. The range looks at 84400-87500, but the direction is downward.
Still holding long positions: It is recommended to take advantage of any price rebound to the 87000-87500 range to decisively reduce or liquidate positions. Protecting the principal is the top priority.
Want to operate with no positions: The only trend-following choice is to short. You can layout short positions with light holdings when the price rebounds to the 87200-87500 resistance area. The first target below is 84400. Remember, do not chase shorts, wait for a rebound before acting.
Key action point: Unless the price breaks through with huge volume and stabilizes above 88000, all rises are just traps; the key support is at 84400, and once it breaks with volume, the downside will open up completely, possibly starting a new round of sharp declines.
The market is educating every participant in a cold way: when the biggest buyers become sellers, you must turn around as well. If you are tired of stubbornly holding against the trend and continuously losing, and want to learn how to follow the direction of large funds, welcome to follow Zhao Gongming. There is no ambiguity in my chat room; I only teach you how to identify this top-level risk signal of "capital resonance outflow," allowing you to always stand on the right side of the market.
