The market rebounded and came under pressure, returning to 26,000. The long and short sides resumed the game.

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1. Binance: Visa has stopped issuing new co-branded cards with Binance in Europe since July.

2. Coinbase is negotiating with Canadian banking giants to promote the development of the crypto ecosystem.

3. ARK Invest and 21Shares once again submitted two Ethereum futures ETF applications.

4. The Central African Republic has passed the Tokenization Law, approving the tokenization of land and natural resources.

5. Data: The total NFT transaction volume this month has dropped by 49% to 223,000 Ethereum, which is approximately US$367 million.

6. The British government will conduct a poll on banning cryptocurrency-related cold calls.

Overnight, the Nasdaq index opened high and fell by nearly 2%. The US dollar index rose strongly to around 104.2. Bitcoin returned to the 26,000 mark and fluctuated. Since there is no novelty in the recent macro narrative of the currency circle, the sustainability of both long and short sides is poor, and sideways fluctuations have become the key words in the near future.

From a macro perspective, the focus of this week is the Jackson Hole Central Bank Annual Meeting, and Fed Chairman Powell will also deliver a speech at the Global Central Bank Annual Meeting at 22:05. The long-short game will then begin, becoming the most important game event today and even this week, and it needs to be paid special attention to.

From a technical perspective, BTC's 4-hour structural rebound has not yet passed the 26,800 mark, indicating that the current 4-hour technical rebound is relatively weak. If the pressure is not broken, the market may still test the bottom again to seek support. At the same time, the daily structure of 27,000-27,500 has not yet been filled. If it cannot be filled by the end of this week, the time for filling this gap in the later period will be full of uncertainty, so the operation should still maintain a high-altitude thinking.

Pay attention to the line change after 4 hours during the day. If it cannot break through the high of 26200 to change the current downward trend, it will most likely test 25800 or even lower again, so pay attention to exiting long positions in time.