As the Federal Reserve's interest rate decision approaches, inflation data has become a key barometer influencing the short-term market. The U.S. PPI inflation data was released in the evening, leading to rising inflation expectations. The dollar and U.S. Treasury yields moved in tandem, putting pressure on risk assets, and the cryptocurrency market responded with a rapid corrective washout.

BTC had a minimum retracement to 76600, and ETH had a minimum retracement to 2403. Reviewing the market liquidation statistics, over 147,000 people encountered liquidation in the past 24 hours, with the scale of long position liquidations reaching $440 million. A large number of positions that chased high prices were concentrated and cleared by the market. Under leveraged conditions, the cost of emotional chasing is very heavy.

In the evening, I provided references for setting long positions at low levels for BTC 77000 and ETH 2420. For friends who have already entered the market, the current price is close to the holding cost, so just hold on with peace of mind. Trading is about buying on the dips; to obtain safe chips, one must patiently wait for the market to give low-level opportunities.

This round of decline belongs to the short-term emotional sell-off triggered by data, rather than a large-scale trend reversal. As long as BTC does not effectively break below 75000, the bullish structure remains solid. After a big drop, one must avoid being caught off guard and following suit to short; chasing short positions at low levels and chasing high positions are essentially both driven by emotions, which are similarly likely to incur losses. The overall strategy remains focused on buying the dips.

Support levels for BTC are at 77000, 76000, and 75000; when retracing to the support range, one can gradually position for low long entries. Resistance levels for rebounds are at 78000-79000-80000, where long positions should be reduced progressively during the upward phase.

Support levels for ETH are at 2420, 2350, and 2300; when it approaches support levels, layer in long entries. Resistance above is at 2470-2520-2600, where one can take profits after a rise.

Every sharp drop is a concentrated release of market emotion, and the moment when panic hits often truly distinguishes traders. There is no one-sided market that only rises; a retracement does not signify the end of a trend but rather a process of re-exchanging chips. Do not let short-term bearish candlesticks disrupt established strategies—do not chase highs, do not panic sell; strictly guard key support and resistance levels, plan to layer in positions, and withstand brief pullbacks to wait for the trend to return.

Risk warning: The above market thoughts are solely personal review and analysis, and do not constitute investment advice. The cryptocurrency market is highly volatile, and data market uncertainties are high. Please strictly manage your positions and trade rationally. For more real-time market explanations, follow the public account: Zhongliang BN

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