Recently, the trend of Bitcoin continues to show continuous ups and downs, and this volatility has once again left market participants lost. However, this is the norm of the Bitcoin market. It is particularly noteworthy that the opening of the K-line chart's up and down channels has become quite obvious, but the current market has limited room to the downside, especially as the downward support of mainstream currencies like Ethereum (ETH) and SOL is gradually strengthening, increasing the probability of future sideways trading.
BlackRock and other established capital have already hinted at short-term bottom-fishing for Ethereum. Ethereum has suffered heavy losses in this bull market, but the involvement of established capital may bring it a wave of rebound.
Bitcoin still maintains a strong position in the market, with other currencies following its trend. However, in the future, smaller coins may no longer have a significant spring like in the past, and the market may become more concentrated on mainstream currencies.
From the perspective of capital flow, in the short term, the trends of U.S. stocks and the Bitcoin market may remain consistent, but this does not mean that there is a direct connection between the two; rather, they are influenced by the same macroeconomic factors.
The downside for Ethereum is limited, and it is expected that around 1500 is a good entry point. Even if lower levels are reached, it may only be in the form of a temporary spike.
The trend of Bitcoin is relatively difficult to predict, but considering the involvement of established capital and the impact of interest rate cuts, its upward potential still exists.
For spot users, the current space for Ethereum is limited, and they may consider taking action. Bitcoin, on the other hand, needs to be approached with caution, but overall, the market has positive factors. For investors looking to establish long positions, it is advisable to primarily use a light position, with the first entry suggestion occupying five percent of the position.
