News:

1. From July 23 to July 24, Federal Reserve Chairman Powell will attend hearings in both the Senate and House to explain the semi-annual monetary policy report, the latest statements on inflation and employment, and whether to release a clear signal for a rate cut in September. Currently, the market's expectation for a rate cut in September has risen to 75% (CME data). If Powell's attitude is dovish, it may drive cryptocurrency prices up.

2. On July 25, the U.S. initial jobless claims data will be released, with a previous value of 243,000. If it remains above 240,000 for two consecutive weeks, it will strengthen expectations of an economic slowdown and increase the likelihood of a rate cut.

3. July 21 is the deadline for the preliminary opinion submission for the Solana ETF application. If it is approved directly, institutional funds may surge, potentially driving SOL's daily increase over 15%.

Technical Patterns:

1. BTC is forming a converging triangle, but is basically close to a turning point, with limited remaining space. If it breaks below 115,000, it may look down to 112,000-108,000. If it breaks above the previous high, it may reach 135,000 or even higher.

2. SOL is currently focusing on the support and resistance exchange positions (187, 185). If it does not break below this position, there is a possibility of continuing to break through after forming an upward continuation above this position.

High-Risk Events: Possible causes for a sharp market decline

1. Delay in ETF approval

2. If Powell unexpectedly adopts a 'hawkish' stance