Coinbase Causing Chaos in the Crypto Sphere

1. Coinbase's Q2 report fell short of expectations, plunging 8% in after-hours trading

2. BTC fell below 116,500 for the first time yesterday but could not recover, which is a very dangerous signal for short-term market trends, indicating that the balance of bulls and bears after more than ten days of consolidation has been broken, leaning towards a bearish trend; if BTC cannot return to 118,000, it will face a deeper correction

3. ETH's medium to long-term trend remains very healthy and will also follow BTC's correction in the short term.