#BTC 's 7,000-point flash crash last night dragged down the broader market, with total market capitalization shrinking by 4%. Despite panic selling, there's no need for overly pessimism—expectations for a rate cut next month remain, and negative news is being digested at an accelerated pace. ETH has demonstrated resilience, with a sharp reversal confirming investors' resolve to protect the market. The pullback is a healthy deleveraging opportunity.

The SEC postponed the Solana ETF decision until October (Bitwise/21Shares proposal), putting short-term pressure on the market. Key indicator fluctuations: The Altcoin Index rebounded against the trend to 44, indicating that BTC has fallen more than altcoins in this downturn, signaling the beginning of a rotation in funds.

Trading Recommendations:

Intraday Support: 117,000-117,500 (long)

Intraday Resistance: 121,500-122,000 (short)