1.7 Evening Market Analysis

Bitcoin (BTC) on the 1-hour chart has experienced a sharp decline from the 94415.4 high point, touching a low of 91549.9, representing a drop of 1.83% from the high. Net capital outflow reached $350 million. From a technical perspective, MA7 and MA30form a bearish alignment with price continuing to trade below the moving averages. The KDJ indicator shows signs of a low-point reversal, but K and D values remain in the weak zone below 30. Volume expanded significantly during the decline but contracted notably during rebounds, indicating that selling pressure from bears far exceeds buying support from bulls. Combined with the upcoming release of US December ADP employment data and ISM non-manufacturing PMI data this evening, market risk-off sentiment is rising. It is expected that Bitcoin will struggle to reverse its short-term downtrend. Key support to watch below is the previous low at 91209.0; a break below will likely test the 90000 psychological level.

**Trading Recommendation:** Short from 92500-93000, Target: 90800-91000.