Bitcoin has oscillated and retreated from the high point of around 70,400 at midnight, with the lowest touch at 67,700 in the evening, a daily decline of nearly 2,700 points, indicating a clear bearish trend.

From the current market situation, the price continued to decline overnight, testing the key support at 67,500. It has not broken this level effectively yet, but the bearish dominance has been established. A six-session consecutive decline on the four-hour chart shows a pullback, with weak rebounds and significantly diminished bullish momentum, failing to stabilize. During the evening, the market volume increased on the downside, consolidating bearish sentiment. The hourly chart shows a stepwise breakdown, with highs and lows moving downward in sync, forming a standard downward channel, with the middle band shifting from support to strong resistance. The bearish trend is clear, and after midnight consolidation, there is still room for further decline. The recommended strategy is mainly to go short on high positions.

Bitcoin's rebound around 68,600–69,200 is possible, with a target of 67,300–65,800.
Altcoins rebound around 2,100–2,130, with a target of 2,020–1,950.