In the early morning hours, the market suddenly took a sharp downturn, showing a rapid decline. However, from the perspective of intraday trends, there are already clear signs of a reversal.

Analyzing the short-term market performance, the price level of 3200 has formed a new support point. If we can keep a close eye on this key position, we might be able to capture some good trading opportunities.

There is a cryptocurrency with outstanding resilience against declines — MORPHO, which has been mentioned multiple times before. Once this cryptocurrency stabilizes during a downtrend, it is crucial to seize the opportunity to accumulate some positions. Its future market value development has great potential and can certainly be compared to the later stages of AAVE.

Additionally, during the early morning period, 200 million USDC was minted on the Ethereum chain, which undoubtedly indicates that off-market funds are continuously flowing into the cryptocurrency market, injecting new vitality and variables into the entire market.

Meanwhile, the U.S. Department of Justice has been approved to sell the seized 6.5 billion dollars' worth of Bitcoin from the 'Silk Road.' Following this news, BTC experienced a temporary decline of over 2%.

Fortunately, there are already signs of stabilization. We need to continue to closely monitor the latest developments to respond promptly to market changes.

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