Watching the candlesticks on the screen, it really doesn't feel good inside. Over the past 24 hours, Bitcoin has dropped another 2.6%, fluctuating around $63,300. Opening the market chart, my first impression is—quiet, way too quiet.

What about trading volume? Funds? Where have they all gone?

The 24-hour high reached 66,400, and the low touched 62,800. The swings are quite significant, but if you look closely at the trading volume, it’s like squeezing toothpaste—completely lacking that “dry wood igniting into flames” feeling. The MA7, MA25, and MA99 moving averages are all pressing down from above, like three mountains. The DIF and DEA are also lying below the zero line, and the small red MACD bars look exhausted.

This isn’t a “market,” it’s basically a “no-man’s land.”

Looking at the fund flow, it’s even more disheartening. Net outflows haven’t stopped; whenever there’s a slight buy-up, it’s immediately suppressed by sell orders popping up from nowhere. Everyone’s talking about “dumping the market,” but the problem is, with such low volume, even a small desire to sell pushes the price down. This isn’t dumping; it’s just no one willing to buy.

Isn’t it true that institutions have been buying? That Strategy guy, buying for the 100th time, another 592 BTC. Sounds encouraging, right? But in a market with billions in trading volume, it’s like a splash in the pond—barely noticeable. Institutions have confidence, sure, but they’re all afraid to move.

Looking at the chart, MACD is heading down, RSI is heading down, all technical indicators are shouting “be careful.” Bullish or bearish signals? There’s no “bull” at all now, only “bear” dragging its feet.

In the past 24 hours, only about 20,000 BTC traded, with a trading volume of $1.8 billion. For Bitcoin’s size, what’s this amount supposed to do? It’s like pouring a glass of water into a swimming pool—you can’t feel the water level rise.

Sometimes I really want to ask: what the hell is going on with this market? Has everyone already left?

The macro environment is uncertain, on-chain selling pressure remains, old money dares not enter, new money is afraid of being trapped. The only ones left are us old chives, staring at the screen, watching those lines fluctuate, hoping for some movement to sip some soup. But what happened? No soup, and the pot’s about to be taken away.

It’s not that Bitcoin is no good; long-term, institutions are increasing holdings, macro bottom indicators are still there, these big logics remain. But this current chart looks like a dead pond—you don’t know what’s hiding underneath, and you don’t know when it’ll come back to life.

Right now, the market isn’t lacking stories or faith; it’s lacking fresh water, living people.

A market without volume is just a “ghost town.” Prices can be pushed up easily, or slide down without resistance. In this kind of market, both longs and shorts feel uncomfortable because you have no idea where the other side is, and you don’t know whether the next move is real or fake.

So, it’s not that no one’s playing anymore; it’s that everyone’s afraid to play.

Everyone’s waiting—for a piece of news to break the deadlock, for funds that can bring volume, for a wave to make this dead pond flow again.

Until then, all we can do is watch the screen and sigh: this market, damn, it’s so boring. $BTC ‌#特朗普宣布新关税政策