16:03 (Beijing Time)
Two supports mentioned in the morning session received completely different responses from the market: $BTC dipped to a low of 76,510, then rebounded back to around 77,360; the 76,500—77,000 area is holding for now. $ETH , however, broke down on heavy volume through the 2,485—2,500 zone, with the low reaching 2,384. The earlier assessment of relative strength in the morning has already failed.
This pullback looks more like a high-level leveraged unwind cooling down. BTC holdings over the past 24 hours fell by about 4.1%. Although the price dropped, there was no corresponding increase in short-term leverage chasing shorts. The ETH long/short account ratio is still around 2.60—crowded longs have not fully worked off.
Next, if BTC falls below 76,500, watch 75,200. Only if it reclaims 78,500 will there be a chance to test 79,500 again. For ETH, it needs to first regain the 2,485—2,500 range; otherwise, around 2,380 could still face renewed pressure.
The morning view was only for observing key levels, with no entry. #BTC #ETH #Market recap
Two supports mentioned in the morning session received completely different responses from the market: $BTC dipped to a low of 76,510, then rebounded back to around 77,360; the 76,500—77,000 area is holding for now. $ETH , however, broke down on heavy volume through the 2,485—2,500 zone, with the low reaching 2,384. The earlier assessment of relative strength in the morning has already failed.
This pullback looks more like a high-level leveraged unwind cooling down. BTC holdings over the past 24 hours fell by about 4.1%. Although the price dropped, there was no corresponding increase in short-term leverage chasing shorts. The ETH long/short account ratio is still around 2.60—crowded longs have not fully worked off.
Next, if BTC falls below 76,500, watch 75,200. Only if it reclaims 78,500 will there be a chance to test 79,500 again. For ETH, it needs to first regain the 2,485—2,500 range; otherwise, around 2,380 could still face renewed pressure.
The morning view was only for observing key levels, with no entry. #BTC #ETH #Market recap