Next week's major event is about to land, with President Puda set to begin his visit to China, which could become a key turning point in the US-Iran situation and negotiations.

Before the positive news related to US-Iran negotiations is confirmed, if Bitcoin can hold steady above the 75,300-75,800 support zone, the overall trend has not fully weakened, and there is still room for a rebound and upward movement. If this support level is effectively broken, even with subsequent positive developments in US-Iran negotiations, the market will find it difficult to recover.

This geopolitical positive news can only temporarily boost the market rebound, playing a short-term role in extending the bullish momentum, but cannot completely reverse the overall trend or trigger a new strong upward rally. It can only slow down the deep correction at the daily chart level.

From a macro perspective, June will see a concentrated issuance of IPOs combined with the start of the World Cup, which will continue to drain existing market funds, leading to a tightening of overall liquidity and putting noticeable pressure on the cryptocurrency market.
Currently, weekend market trading is light, with no significant fluctuations on the charts, and the short-term trend remains weak. The trading strategy mainly remains to follow the trend and look for short positions.
Bitcoin reference: short at 78,800-79,300, target 76,700. Support at 80,000. #BTC #ETH