#加密市场观察 Cryptocurrency Market Plunge! Bitcoin and Ethereum Both Drop Significantly, Rebound or Continue Falling? Since yesterday until now, the crypto market has experienced sideways movement followed by a sharp drop, with Ethereum continuing to fall alongside Bitcoin. Many friends probably felt their hearts pounding out of their chests. This big decline is definitely not accidental; let’s carefully analyze the causes and the overall picture. Macroeconomic Headwinds Intensify, Panic Sentiment Worsens The market was already tense due to the Federal Reserve pausing interest rate cuts, and unexpectedly, the US government shutdown crisis has resurfaced. It’s like a house leaking just as it rains—funds are already wary of high-risk assets, and this has directly triggered panic selling. It’s important to note that cryptocurrencies are always sensitive to macro liquidity. This combination of “policy uncertainty + tightening liquidity expectations” has overwhelmed the market, which is the main reason for the sudden expansion of declines after last night’s US trading session. Technical Indicators Turn Red, Short-term Rebound Difficult to Change Weakness From a technical perspective, this Bitcoin plunge has wiped out the recent rebound gains from a few days ago. The daily Bollinger Bands are opening downward like a pulled bowstring, clearly indicating a bearish trend. The four-hour chart shows the same weakness, with all short-term moving averages diverging downward. However, there’s no need to be overly despairing; the stochastic indicator has entered oversold territory, and the MACD on the hourly chart is also contracting, suggesting a likely short-term rebound for correction. But in a weak market, such rebounds are more like “catching a breath,” and their strength probably won’t be substantial. Ethereum is moving in sync with Bitcoin, with the overall trend being “decline mainly, rebound secondary.” Key Levels to Watch, Exercise Caution in Operations Today’s focus is on the rebound correction. Short-term support for Bitcoin is around 81,000; if it breaks below, it may head toward the 80,000 level. Resistance levels are at the early morning high of 84,600 and the hourly middle band at 86,000. For Ethereum, the immediate support is at 2,700, followed by the November low of 2,670; resistance first at 2,850, then at 2,900. In summary, the macro environment remains unfriendly, and market sentiment has not stabilized. The key will be tonight’s US trading session. The strength of the rebound and whether key levels are held or broken will determine the short-term market direction. Finally, I want to ask everyone: where do you think this rebound can reach? Facing the current weak market, do you choose to wait and see or seize the opportunity to deploy? Feel free to share your thoughts in the comments!