Today's Market Analysis

$BTC Bitcoin briefly fell below 115200 but quickly rebounded. Currently, the market's focus has shifted to the 120,000 mark. If it can maintain above 120,000 this week, it will be a clear bullish signal, with the potential to continue pushing towards the upper 136,000 area, which is a key target from the previous pattern.

In the short term, if there is a pullback, around 116800 is a support level to watch. From on-chain data, the trading activity among large Bitcoin holders has been relatively active in recent days, with 3621 large addresses added yesterday and a reduction of 569 today, resulting in a net decrease of 1098 this week. Some early large holders have shown significant selling pressure recently, but overall, these holdings have been absorbed by new large entrants, and the reserves of Bitcoin on exchanges continue to hit new temporary lows, indicating that the selling pressure in circulation is being gradually absorbed.

$ETH On the Ethereum side, the price is currently stable above the key area of 3674, maintaining a relatively strong position. If it can remain steady, there is a chance to challenge the strong resistance around 4040. Recently, as the market approaches the 4000 USD mark, selling pressure has indeed increased, but large funds are still entering the market, and buying activity remains quite strong. This range is like the lid of a pressure cooker; once it breaks through, it could potentially release greater upward momentum.