Yesterday, Bitcoin initially dropped sharply and then rebounded slightly, with intense volatility throughout the day, showing a generally weak sideways pattern. The overall news sentiment was bearish, with strong U.S. non-farm payroll data delaying expectations of Federal Reserve rate cuts. The strengthening dollar put pressure on risk assets; combined with institutional ETF outflows and market leverage liquidations, short-term bearish factors were released. However, the price found clear support below 65,000, with selling pressure easing, and no extreme crash occurred. Support below remains relatively solid.

On the technical side, the daily chart is still in a correction phase. Short-term key support is in the 65,000-65,500 range. If this level is effectively broken, further testing around 64,000 may occur. Resistance above is at 67,000-68,000, with rebound attempts facing significant resistance. Overall indicators are bearish, with no clear reversal signals yet. The short-term outlook remains cautious with sideways weakness.