The Federal Reserve's policy direction dominates the sentiment in the cryptocurrency market. Ahead of this week's FOMC meeting minutes and Powell's speech at Jackson Hole, the cryptocurrency fear and greed index has risen from 45 to 50, as the market awaits policy signals. Some analysts believe that the short-term may have bottomed out, but Powell's speech could still trigger volatility.
$BTC The four-hour moving average has formed a dead cross. After multiple tests of the support level, the rebound has weakened, increasing the risk of a breakdown. Yesterday, a large bearish candle engulfed the previous day's bullish candle, indicating bearish dominance. In the short term, attention is on the $1133-$1142 resistance level. A breakdown below $112000 could lead to a drop to $110500-$110300, and a first touch may attempt a reversal to long positions.
$ETH 4800 After being blocked at $4000, it retraced 7%, but firmly held the key support at $4000. A retest could act as a catalyst for breaking through historical highs, and if successful, it may aim for $6000-$7000.
$BNB 847 $800 is a key level; a breakout could target $880-$900. If it falls below, watch for support at $820. Be cautious of false breakouts in the short term, and operations need to focus closely on the market.
In the DeSci sector, the BIO project supported by Vitalik and CZ's team is heating up the decentralized science narrative. Although short-term volatility is inevitable, the trend in life sciences combined with narrative dividends points to a clear long-term upward trend.
This week's core variable remains U.S. monetary policy, and short-term sentiment may fluctuate with Powell's speech. Bitcoin's support level is under pressure, Ethereum is gaining momentum for a breakout, BNB is considering direction, and DeSci has become a new hotspot.
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