Bitcoin dropped from 124,500 to 114,600, a nearly 10,000 point pullback. Yesterday, it also fell sharply, and a rebound of about 2,000 points is normal. However, everything is in line with expectations, continuing to pressure and retreating to 117,000.

The index dropped from 4,794 to 4,222, a pullback of about 570 points, which is quite significant over just a few days. I thought it would hit the 4,400 mark after the big drop the next day, but it unexpectedly rebounded to around 4,385 and then faced pressure and retreated again.

Currently, Bitcoin is relatively stable while the index is fluctuating greatly. The upper resistance for both is around 117,000/4,400, but there is also strong support at the lower end of 114,000/4,200. So in the short term, we should see weak consolidation in this area, while the overall trend continues to favor a second dip.

Short-term adjustments are relatively positive. There aren't any significant news stimuli at the end of August, and adjustments or rebounds are merely for better declines.

Consider how many major positive news items have accumulated over the past two weeks; how much has Bitcoin and the index really increased? How much new capital will flow into the market? Underperforming assets with scattered funds will only continue to trade on positive news repeatedly. In the end, institutions/whales can only use the strategy of 'buy low and sell high'. $BTC