In the past 24 hours, the cryptocurrency market has overall corrected by 2.43%, extending the decline of 6.06% over the past week. This drop coincided with a 1.46% decline in the Nasdaq index, reflecting multiple pressures, including profit-taking after Bitcoin's highs, rising regulatory uncertainties, and leveraged liquidations.

Three Major Reasons for Market Decline:

1. Risk Correlation: Crypto assets are highly correlated with tech stocks, exacerbating downward volatility.

2. Regulatory Shadow: The U.S. SEC is investigating crypto firms related to Trump, impacting market confidence.

3. Leverage Chain Reaction: Bitcoin bulls faced $116 million in liquidations, triggering a wave of selling.

Data shows that in the past 24 hours, a total of 151,444 people globally faced liquidations, amounting to $537 million. Among them, short liquidations totaled $73.71 million, while long liquidations were even larger, reaching $463 million.

1. Bitcoin (BTC)

Current Price: $113,351.72

24-hour Decline: -2.27%

7-day Decline: -4.96%

24-hour Trading Volume: $73.69 billion

Circulating Supply: 19.9 million

Market Cap: $2.25 trillion

Operational Thoughts:

Short-term: A rebound to $114,500 may be an opportunity to short, with a stop loss at $115,200, looking down to $112,000-111,500.

Spot: Patiently wait to build a light position near $108,500, close to daily EMA120 support and a dense trading area.

2. Ethereum (ETH)

Current Price: $4,128.65

24-hour Decline: -3.83%

7-Day Change: +9.73%

24-hour Trading Volume: $51.92 billion

Circulating Supply: 120.7 million

Market Cap: $498.39 billion

Operational Thoughts:

Short-term: Lightly short near $4170, stop loss at $4210, target $4100-4080.

Spot: Can build a position in batches of 10% in the range of $4150-4100, and add 30% if it drops to $3920. If support at $4150 is lost, it may test the demand zone of $3950-3800.

Overall Market Overview

Total Market Cap: $3.81 trillion (▼2.43%)

24-hour Trading Volume: $192.74 billion (▲3.84%)

Fear and Greed Index: 45/100 (Neutral, down from yesterday's 53 and last week's 63)

Market sentiment has retreated from 'Greed' to 'Neutral', but has not yet reached extreme fear territory.

Capital Flows and Trends

Bitcoin Dominance: 59.15% (up 0.16 daily)

Altcoin Season Index: 46/100 (Neutral, far below the 75 needed to trigger 'altcoin season')

30-Day Altcoin Index: Down 11.54%

Note: Under macro uncertainty, investors are more inclined to hold Bitcoin, with a noticeable return of funds to altcoins.

Outlook for the Next 24 Hours

Ethereum: Expected to fluctuate in the range of $4000-4300. If bulls hold 4150 and reclaim 4350, the rebound may extend to 4480-4600; if 4150 is lost, it may retreat to $3950-3800.

Bitcoin: On-chain data still shows that the bull market cycle is not over, but short-term pressure needs to be digested and leverage reset to restore upward momentum.

On the macro front, the market is closely watching Federal Reserve Chairman Powell's statements at the Jackson Hole seminar to confirm the probability of a rate cut in September.

Investment Insight: The crypto market is still oscillating between fear and greed. Investors who accumulate positions during periods of low sentiment may achieve the best returns in the next market cycle.