📉 Market situation today

BTC is trading around ~113,700 USD, down about 0.9%. The price is testing the support zone around 112,000–113,000 USD. If this level is lost, it may drop to the 110,000 USD zone.

ETH is down ~2.95%, currently around 3,578 USD, after bouncing back from the $3,650–3,700 range. The overall trend is testing resistance around $4,000.

BNB is down 1.94%, priced at about 749.6 USD, hitting the technical support zone at $745–761. If it successfully breaks above, it could open up the next upward momentum.

💡 Main reasons

The general sentiment is to “sell the news” after the recent strong increase, with capital flowing out to take profits.

Weak U.S. economic data, the possibility of the Fed cutting interest rates in September is being questioned, putting psychological pressure on risk assets like crypto.

Liquidation of long leverage positions amounting to nearly $900 million USD occurred across the market, which also contributed to the market's correction.