Market Analysis Today

$BTC suddenly broke below 113000 last night but was quickly bought back, today it slightly retraced and stabilized before bouncing back. Overall, this "double bottom" attempt seems to be successful, with no new lows, and the rebound point is on the right side, indicating a relatively strong structure. It is highly likely to test upward again, so in the short term, we should focus on the resistance level above 116000.

$ETH also shows a similar trend, hitting a low around 3540 before bouncing back, which is more resilient than BTC and structurally a bit stronger. If it continues to follow the rebound, the short-term resistance looks to be around 3750 to 3800.

Altcoins have been performing well this time, especially in the PUMP sector. After BONK cooled down, there has been some renewed activity, slowly starting to rise. However, the dominance in this round is still primarily in the hands of institutions, and the relationship with pure player speculation on-chain is no longer significant; as mentioned before, MEME coins are not the next hot topic for speculation.