Gate Research Institute: Crypto ETFs Continue to Experience Net Outflows | SKR Gains 24% in 24 Hours
Cryptocurrency Market Overview
BTC (-11.70% | Current price $64,437): BTC experienced a rapid sell-off with increased volume over the past 24 hours. The price dipped to around $59,980 before showing clear signs of stabilization, followed by a corrective rebound. It is now trading above $64,000 in a consolidation phase. From an overall rhythm perspective, the first half was dominated by panic selling, while the second half gradually entered a phase of emotional recovery, but a clear reversal pattern has not yet formed. Technically, the intraday rebound has brought the price back near the short-term moving averages, with MA5 and MA10 showing signs of flattening, but MA30 remains clearly downward sloping. The price is still generally below the medium-term moving average, indicating that the current move is more of a technical rebound after a decline. During the decline, trading volume significantly increased, with panic selling concentrated, while during the rebound phase, volume noticeably contracted, showing that funds are testing the market.
GateResearch·02-06 07:58
