Today's Market Analysis
$BTC has already dropped to the low point of the last pullback; this position is likely to see a corrective rebound, and there should be some action around 113000. However, it is not the final bottom, and it's still too early to draw conclusions.
$ETH made a brief surge yesterday but couldn’t even reach 4380 before turning down, dropping directly below 4100, which confirms what was previously said—below 4100 is the potential bottom area. The range of 3900-4100, I still believe, is the core range of this adjustment. If it is truly breached, then it would really be Wall Street harvesting, and a “second LUNA” scenario is not realistic, after all, LUNA took half a year to collapse; this shell model cannot crash in just two months.
Currently, on the market, selling pressure is still present, but the turnover of institutional funds is the key to pushing the market to higher positions. Strong altcoins have basically stopped falling, but the rhythm of the rebound depends on BTC and ETH leading the way. Strongly correlated altcoins can consider laying down some groundwork, while weakly correlated ones should be a bit more patient and wait.