Bitcoin is hovering below the key resistance level, and analysts are clearly divided in their judgment on the future market

Comparing news, according to a CoinDesk report, Bitcoin is currently trading at around $71,200 and Ethereum at $2,185. The overall market remains volatile. Bloomberg analyst Mike McGlone warned that if Bitcoin fails to recover $75,000, there is a risk of falling $10,000; Fundstrat founder Tom Lee believes the bottom of the market has been established.

In terms of derivatives, Bitcoin futures contracts rose to 726,000, and the 24-hour CVD was positive for 2 consecutive days. The funding rate was slightly above zero, and the overall trend was bullish; the CVD and funding rates for ETH, XRP, and Solana were slightly negative. The volatility index continues to decline, and the market expects the price to fluctuate only about 2.5% before and after Friday's inflation data.

In terms of altcoins, MANA and AERO each increased by about 6%, but MANA's increase was accompanied by a 25% surge in open contracts, indicating that they were mainly driven by leverage. The market is concerned about whether Bitcoin can effectively break through $75,000 and form support. If so, it may trigger a rotation of capital towards the oversold altcoin sector.

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