分析： Bitcoin Faces Renewed Pressure, US Stock Risk Sentiment Weighs on Crypto Market
Odaily报道 Bitcoin weakened again after the opening of US stock markets on Wednesday, briefly rising to around $77,678 before retreating, continuing the structural trend observed this week of "strength during Asian hours and a pullback during US hours."
Market attention is focused on the upcoming Nvidia earnings report, which multiple institutions regard as one of the most critical macro volatility triggers this quarter. Reflecting this, sentiment in pre-market US trading was cautious, with the S&P 500 falling approximately 1.3% at one point before staging a slight rebound. However, overall risk appetite remains weak.
On-chain and spot market structure: The Coinbase Premium Index has dropped to multi-month lows, indicating persistently weak buying pressure from US markets. This metric has remained negative recently, reflecting relatively insufficient spot demand in the US region. Even with BTC prices still at elevated levels, marginal buying power has not strengthened correspondingly.
From a technical perspective, Bitcoin has again fallen below its 21-week exponential moving average (21W EMA). Analysts note that this level could shift from support to resistance. If BTC fails to reclaim it, the likelihood of short-term volatility and a pullback increases. Overall, the market has entered a wait-and-see mode amid the convergence of a major tech earnings report and macroeconomic uncertainties. (Cointelegraph)
