Affected by the latest CPI data with a mild positive impact, the price of Bitcoin (BTC) has entered a consolidation pattern in the range of 101,000-105,000.
Currently, the 101,000 USD level forms a short-term effective support, with a key support level further probing downward to around 99,700 USD. Overall market sentiment remains optimistic, but there is a lack of substantial positive factors to drive BTC to break upwards.
Meanwhile, Solana (SOL) is showing a fluctuating upward trend, successfully breaking through the resistance level of 182 USD in the early morning today, currently fluctuating in the range of 180-185 USD, with the 188-190 USD area constituting an important resistance level.
From on-chain data, SOL's turnover rate on Tuesday remained basically flat compared to the previous day, maintaining in the range of 123-160, showing obvious signs of short-term chips exiting, while changes in medium to long-term holding chips are relatively small.
As the price rises, short-term profit-taking continues to realize gains, with chips concentrated in the range of 174-182 USD, where the 174 USD position has accumulated over 33 million tokens.
However, since the chips in this range are mostly from short-term entries, the effectiveness of this support still needs to be verified by the market.
From a correlation perspective, SOL's price trend is highly correlated with the overall market, but during market fluctuations, if there are narrative-driven speculations such as ecological benefits, the possibility of it breaking into an independent market cannot be ruled out.
