$BTC Blood flows like a river on-chain! ETH main force trapped at 2600, retail investors bottom-fishing is just handing over their heads

Technical Analysis Truth:

1. All signs point to a decline: Key moving averages are all trending down, clearly indicating a bearish trend.

2. Declining volume, rebound with little volume: When it dropped from 2569, the trading volume was huge, indicating a fierce sell-off. Later, during the rebound, the volume was pitifully small, not enough to matter! This weak rebound is just a deceptive smokescreen, fooling people into bottom-fishing!

3. Don’t trust false signals: Saw the MACD golden cross or RSI oversold recovery? In a downtrend, these are just illusions drawn for retail investors! If it really wanted to go up, it should have broken through the 2450 moving average resistance with massive volume long ago! Now it can't even hold 2430, it's extremely weak!

4. Conclusion: The technical analysis shows that bears control the market!

News + On-chain:

1. The macro environment is not favorable: Economic data is poor, and the Fed's interest rate cuts have changed course. Bitcoin is hesitant at critical price levels, dragging ETH down with it.

2. On-chain insight: The whales that bought at the high of 2600 are now playing dead. Exchanges seem to be hoarding a lot of coins? That's just retail investors panicking and buying! If there were real strength to pump the price, it would have already brought it back to 2500! What’s the situation now? The bears are sharpening their knives, waiting to strike!