This wave of decline serves as a warning to those who blindly believe in the bull market—markets never remain permanently unilateral, and obsessing over a return to highs often harbors hidden risks. The current market is like a flower branch in the cold wind, its direction uncertain, and news is the key variable.

Macroeconomic turmoil is intensifying: Expectations of a Fed rate cut are a double-edged sword, potentially stimulating inflation. However, market expectations of a gradual rate cut are driving short-term dollar strength and rising US Treasury yields, leading to a return of capital to traditional markets and a subsequent cooling of the crypto market.

Technically, the strength of the 4400 support level will be crucial during a pullback from the highs to around 4450. If it stabilizes, it could rebound to test 4500; a breakout could potentially push it towards 4650; otherwise, it could continue to fluctuate or even fall.

Trading wise, avoid chasing gains and selling losses, and wait for key levels to be confirmed. If the 4400 support level holds, try a small position for long positions, targeting 4500-4650; if it falls below, be wary of a deeper correction. Always remember: controlling your position and maintaining strict stop-loss orders are the key to navigating changing circumstances. #ETH突破4600 #BTC再创新高