Midday Analysis

The U.S. July PPI surged 0.9% month-on-month, far exceeding expectations. The market's expectations for a rate cut by the Federal Reserve in September have reversed, raising concerns about interest rate hikes, leading to a sell-off of risk assets. This caused Bitcoin to pull back 7000 points after reaching an all-time high this week, oscillating below 120,000 again, confirming the false breakout. Meanwhile, Ethereum faced resistance at 4800, dropping 350 points before slowly rising again. If Ethereum breaks through 4640 in the short term, there is a possibility of a V-shaped reversal, targeting 4666 and 4712.

Trading Suggestions:

Bitcoin: Short at 119000-119500, targeting around 117500.

Ethereum: Short at 4730-4660, targeting around 4550.$ETH #加密市场回调 $BTC