BTC's recent decline is mainly due to ETH's drag, with market funds and activity concentrated on ETH. BTC has support around 112000, but the rebound may not be strong, and short-term bottom fishing may not necessarily prioritize BTC. $ETH continues to decline, as it had risen too much earlier, leading to significant profit-taking pressure, with a drop exceeding 10%. Although there are opportunities for recovery, the timing is not ideal, and 4300 was not held, with the next support at 4100.

Spot market impact is small, but contract pressure is significant. Altcoins are generally declining, but there is no sign of a crash, indicating that leveraged funds are not abundant, and ETH has absorbed most of the liquidity. Short-term bottom fishing should prioritize mainstream coins, following the funds is more stable, and avoid rashly entering small coins.