At noon, the market fluctuated between 118,000 and 119,200. From the hourly chart, both the upper and lower fluctuation boundaries are moving downward, but the decline is not rapid, and it may drop a little more in the short term. Attention should be paid to the 118,000 position; in the short term, the likelihood of this position holding is quite high.

Currently, the market is oscillating back and forth between the middle and lower parts of the fluctuation range, making it quite difficult to push through the middle line; however, when it approaches the lower line, it hasn't dropped too significantly.

Tonight's CPI data is particularly important, so we need to closely monitor market changes to adjust operational arrangements.

Bitcoin has retraced to around 117,500-118,000 for buying, with a target looking towards around 119,000-119,500.

Ethereum has retraced to around 4,220-4,180 for buying, with a target looking towards around 4,320-4,370.