Whale holdings have plummeted, with large funds fleeing. It is expected to retest the low at the end of 2023, and we need to wait for the return of funds before a new market trend can form.

On the other hand, the funds for ETFs have shifted from inflow to outflow, and the hype around SOL presale has greatly diminished, indicating a lack of new funds. Caution is advised against chasing high risks.

BTC:

BTC is holding steady along the 5-day moving average, with a spike in volume on the hourly chart confirming bottom support. The key resistance level is $66,756, and with weakening bullish momentum, BTC is entering a triangular convergence trend. BTC needs to break through $66,756 with increased volume to quickly surge higher. Next, BTC will test $66,756 on the upside.

Resistance levels: $66,756, $68,357, $69,982

Support levels: $64,072, $62,758, $61,234

ETH:

Multiple large on-chain ETH transfers to Binance have a bearish impact on ETH. The hourly chart confirms a bullish divergence trend, and ETH is entering a short squeeze market. The key resistance level is $3,567, and only by holding above $3,567 can ETH establish a bottom and surge higher, initiating a new round of short squeeze. Next, ETH will rise towards $3,567.

Resistance levels: $3,567, $3,665, $3,742

Support levels: $3,375, $3,226, $3,134

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