Afternoon market conditions took a dramatic turn. After a rebound reached $74,250, the market failed to sustain its uptrend. Instead, it staged a sharp needle-like selloff, plunging straight down to the $72,200 level, with a one-sided decline of nearly 2,000+ points. Long positions established at $74,200 earlier unfortunately stopped out with losses of 750+ points. Currently, price has temporarily settled around $72,300.

From a technical structure perspective, this afternoon's sudden volume-driven selloff directly broke through the key support level of $73,500 that was confirmed multiple times this morning. The loss of this level indicates that the short-term bullish structure has been damaged, and market sentiment has shifted from strong to weak. Although price has found temporary relief at $72,200, from an hourly timeframe perspective, this selloff exhibits characteristics of rapid, continuous decline accompanied by expanding trading volume—a typical bullish stampede-style exit. If subsequent rebounds fail to quickly reclaim the lost territory at $73,500, rebounds will likely face a second wave of selling pressure from bears, and the overall trend will enter an adjustment phase or a bearish-dominated stage.

Operationally, it is recommended to focus on shorting after rebounds face resistance, maintaining a trend-following approach. The key focus above remains $73,500, which has shifted from support to resistance. If price rebounds to the $73,000-$73,300 region and shows signs of stalling, consider a light short position with targets below $72,200. At the same time, note that if the market consistently fails to hold above $72,200, there is potential for further downside exploration seeking support. Pay attention to the support zone of $71,000-$71,500 below. #Gate13周年全球庆典 $BTC