It must now be a bearish perspective

Analysis of the market in the afternoon of Thursday, and long-term positioning
Bitcoin, after flooding below 78,000, has consecutively broken through key levels at 75,000 and 73,000, with a low of 70,100. This week, the bulls have not organized a decent rebound. Currently, it is clearly under the pressure of moving averages, and the bulls may find it difficult to reverse the situation!
News
US inflation data exceeded expectations, and the Federal Reserve's rate cut expectations for March have significantly cooled down. US Treasury yields have risen, continuously suppressing global risk assets; combined with international geopolitical disturbances and a high-level correction in US stocks, market risk aversion has increased. Funds are continuously flowing out of the crypto market and into safe-haven assets like gold. The buying support for mainstream coins has significantly dried up.
The 73,000 level above has shifted from support to strong resistance, making short-term rebounds unlikely to reverse the downward trend.
Afternoon trading suggestions
Short-term: Short positions around 71,500–72,000,
Target: 70,000 key level, long-term outlook: 65,000.