From another perspective, the current selling pressure mainly comes from the 140,000 coins paid by Mentougou, 40,000 coins by the German government, miners, 2 million coins of on-site liquidity tokens, continued small outflows of ETFs, and rumors from our government. These forces jointly directed this wave of decline, but now more than 75% of mining machine models have reached the shutdown price, and the only ones left are the recent batch of new mining machines. Against the background of declining computing power, the probability of Bitcoin continuing to spiral downward is extremely low, which has not happened in history (not in line with the interests of all whales, institutions, governments, miners and mining farms). So from this perspective, the probability of Bitcoin V rebounding to more than 63,000 is higher than falling to around 42,000.

ETH has nothing new, and if the TVL of pledged collateral plummets, it needs to wait for new innovations. I don’t know whether the new project with a financing of 85 million US dollars can bring vitality to the Ethereum ecosystem. A project doing open source AI hopes to be able to break out of the circle, after all, it is benchmarked against CHATGPT. At present, the overall linkage is mainly Bitcoin.

There are institutional chain liquidations below SOL110, so it is highly unlikely to reach this position. Institutions will protect the market. From the perspective of form, it is still oscillating on a high platform. This position is a good position for short-term trading.

In short, every time you cry, yell, and lie down, it is a short-term rebound opportunity. I believe this time is no exception. The key is to look at the rebound strength. The faster it is wrapped back, the stronger the rebound strength, and the more optimistic the market outlook. On the contrary, if it rises horizontally, then I'm sorry, see you below 50,000!