The three major U.S. stock indices have reached new highs, with the spot gold price in London peaking at $3,740 per ounce during the session, and New York gold futures also breaking through $3,770 per ounce, both setting historical records. While gold and the stock market continue to hit new highs, the cryptocurrency market experienced a comprehensive decline yesterday, with an overall market capitalization drop of 3.41% to $3.89 trillion. Bitcoin's price briefly fell below $112,000, and Ethereum's low touched $4,077, marking a 24-hour decline of 2.33%.

In just a few hours, the long leverage was subjected to systemic liquidation, with $1.7 billion in positions being "one-click harvested," resulting in over 400,000 traders losing their positions, causing the market to plunge into panic. As of the time of writing, Bitcoin is quoted at $113,017, having risen about 0.4% in the last 24 hours.

The shadow of inflation and the tightening stance of major central banks have weakened risk appetite. The Federal Reserve's signals of holding off on future interest rate cuts have also prompted most funds to flow back into safe-haven assets. Meanwhile, the U.S. Securities and Exchange Commission's regulatory proposal for crypto ETFs concerning stablecoins remains unresolved, amplifying market uncertainty.

This week, attention should be paid to speeches by Federal Reserve officials at public events, including tonight's speech by Fed Chair Powell, as well as the personal consumption expenditures price index to be released this Friday. The market expects the PCE excluding food and energy for August to rise by 0.2%, down from 0.3% in July. On an annual basis, the so-called core index is expected to remain at a high of 2.9%.

Bitcoin Four-Hour Chart

Bitcoin's current price fluctuates around $113,100, positioned between the 38.2% Fibonacci retracement level of $113,837 and the 50% level of $112,588. The short-term resistance level is at $113,800, and a successful breakout could test the strong resistance area at $115,400. If it continues to rise, it will challenge the previous high of $117,900. On the downside, $112,600 serves as short-term support, while $111,300 is a key support level; a drop below this could lead to a decline towards $109,500.

The Bollinger Bands indicator shows that the price is operating near the lower band, with the widening gap indicating increased volatility. The mid-band around $115,000 constitutes significant resistance. The MACD indicator remains in a death cross state, with bearish momentum still being released; however, if the MACD green histogram shortens or turns red, a rebound may occur. The KDJ indicator shows signs of being oversold, with KD line values operating at low levels; if a golden cross forms, it could trigger a short-term rebound.

In summary, the following conclusions are provided for reference:

1. After holding the support range of $112,600-$111,300, a rebound to $113,800-$115,400 is expected.

2. If it falls below $111,300, it may continue to decline towards $109,500-$107,500.

The current price is at a critical support zone, with a short-term bearish bias, but oversold indicators suggest a potential rebound. Close attention should be paid to the defense of the support band between $111,300 and $112,600.

Instead of giving you a 100% accurate suggestion, it is better to provide you with the correct mindset and trend. Teaching someone to fish is better than giving them fish; learning to earn a lifetime is more valuable than making a quick profit!

Time of writing: (2025-09-23, 16:30)

(Written by - Daxian Talks Coins) Disclaimer: Online publication has delays; the above suggestions are for reference only. Investment carries risks; proceed with caution!

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