Last night, influenced by the CPI data, Bitcoin surged past the 95,000 mark. The inflation data once again aligned consensus with the Federal Reserve's interest rate cut. In yesterday's article, I mentioned that the favorable data would help BTC return to 95,000 and ETH to 3,300, which has validated my view. Today, the cryptocurrency market is showing a mild rebound overall, with the total market capitalization slightly increasing by 0.75% to about 3.13 trillion USD. After a morning rally that peaked around 96,700, it began to correct and is currently consolidating near 95,000, with a 24-hour increase of about 4.52%.

ETH performed strongly, with an increase of about 7.46%, currently consolidating around 3,300, benefiting from a revival in on-chain activity. Institutional ETF inflows are strong (BTC ETF net inflow of 753 million USD), but macroeconomic uncertainties are limiting the gains. ETH on-chain transaction volume increased by 6.8% to 2.05 million transactions, with DeFi and RWA adoption accelerating, and institutional staking reaching 170 million USD. ETF inflows were 25 million USD, and JPMorgan stated that the de-risking phase has ended, predicting it could exceed BTC by 2026, with a forecast of 4,500-7,000 USD, optimistically up to 11,000 USD, which I believe is overly optimistic.

Today, both BTC and ETH are consolidating at high levels. For BTC, short-term attention is on the support at the 94,000 mark; if it holds, consider going long around this area. If it breaks down, look for support at 90,000, where a medium-term long position can be established. I also mentioned this level for entry a couple of days ago. On the upside, watch for resistance at the 98,000-100,000 range. For ETH, short-term attention is on the support at the 3,200 mark; if it holds, consider a long position, with resistance above at 3,500. (Remember to control contract positions within 10%.)

Disclaimer: The above content is purely personal opinion, and the strategies are for reference only and should not be considered as investment advice. Any risks taken are at your own discretion.

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