The market situation from Tuesday is essentially maintaining a range-bound consolidation as the main rhythm of operation. Bitcoin surged to the 110,653 line in the morning, followed by a continuous pullback during the afternoon, but the downward pressure was relatively weak, slowly descending, with the daily low touching the 108,280 low line before rebounding. It is currently warming up again to around 108,700. Ethereum experienced a surge in the evening, reaching a high of 2,798 before experiencing a pullback.

Overall, the market has built a technical structure of oscillating upward, with the bottom support level continuously rising, and the upward trend becoming increasingly solid. As prices consistently break through key resistance levels, the crypto market has officially entered a small bull market phase. Bitcoin has successfully broken through the previous downward channel suppression and has broken above the 110,000 mark, with market expectations for its challenge to historical highs continuing to heat up, while Ethereum closely follows, successfully returning to bullish territory. In the short term, four smaller levels are continuously oscillating at high positions, with alternating bullish and bearish trends, and the pullback space is limited, remaining within a strong bullish trend.