Market Overview
Today's cryptocurrency market continues the recent adjustments, stabilizing and rebounding slightly after minor fluctuations in the early session, reaching a high of around $71,400, currently Bitcoin is fluctuating around $70,000. Ethereum follows the trend with slight movements, currently oscillating around $2,131. In the past 24 hours, approximately 80,000-90,000 people encountered liquidations, with a total amount of about $200 million. The overall market capitalization is approximately $2.4 trillion, with a cumulative decline of about 4-5% this week, and a trading volume of about $90.6 billion.

The fear and greed index is at 11, indicating extreme fear. The withdrawal of risk assets still dominates the market in the short term.

Trend Analysis
Bitcoin (BTC): Fluctuating after recent adjustments, with increased volatility
Bitcoin has accumulated a decline of about 4% this week, recently falling from a high of $76,000 to around $69,000 for support, similar to fluctuations under previous macro pressures. Coupled with leveraged liquidations and macro factors pushing downward, but the leveraged liquidation has not entered a vicious cycle (approximately $198 million liquidated across the network in the past 24 hours), selling pressure has eased. The current rebound shows buying interest. If Bitcoin can consolidate above $70,000, it may attempt to test $75,000. Otherwise, if it effectively breaks below $68,000, it could drop to $65,000 or even $60,000. For trading, consider shorting around $71,500.

Ethereum (ETH): Fluctuating with the market, confidence low
Ethereum has limited cumulative decline this week, recently oscillating in the $2,100-$2,200 range, currently around $2,130. If it can consolidate above $2,100, there is a chance to reach $2,200-$2,300. If it effectively breaks below $2,000, it may need to see $1,900-$1,800-$1,600. For trading, consider shorting around $2,180.

Potential Influencing Factors
This volatility stems from global macro pressure, hawkish signals from the Federal Reserve, and geopolitical risks, leading to recent market capitalization adjustments.The final passage of the bill still requires bipartisan compromise, with occasional mentions of Trump family conflicts of interest; if the Federal Reserve shifts to hawkish in subsequent data, it may still suppress risk appetite.

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