• Today's Market

Bitcoin: Bitcoin has been consolidating sideways for nearly 20 days since the peak in mid-July. Last Friday, it broke below the 116K support level, initiating the first wave of decline. After two days of technical rebound with reduced volume, the daily chart has begun to form a second wave of downward structure. On August 10, it successfully broke below 113K during trading and reached a low of 112.6K. The 4-hour chart shows that bullish funds continue to flow out, with bears gradually gaining the upper hand, and it is expected to continue to test the 110K level in the short term.

• Ethereum: Ethereum broke above $4300 on Sunday (August 10), reaching a new high since the end of 2021, with a more than 7% increase within 24 hours, but it subsequently turned downward. Ethereum has been under pressure above 3700 points for nearly half a month, forming a high position doji and long upper shadow combination, with a clear divergence between volume and price, indicating a depletion of bullish momentum. Although there was a rebound due to short-term positive stimulus, it failed to stabilize above 3700 points, and the daily structure has weakened again. The current 4-hour chart is in a slow decline structure, with key support around 3560; if it breaks below, it may test 3450.

• Altcoins: The altcoin sector continues to perform weakly, with various major hot topics showing sporadic rotations, lacking a clear leading sector. Mainstream coins are in a consolidation phase after a major uptrend, with some leading projects experiencing early runs before good news and subsequent sell-offs after news breaks. Several altcoins have encountered deep pullbacks after surges, indicating instability in speculative funds and insufficient confidence in holding.