Bitcoin (BTC) short-term trend has been broken. The price may continue to test the support level. The price was supported near 29500 last night, but there was no obvious increase in trading volume. There is no clear reason for the market to rise or fall at present. The price may fluctuate in a relatively narrow range. On the 4-hour level, if it cannot rise above 30800 this week, the price is likely to break out of the range and continue to move downward to test the support level near 28700. The short-term trading suggestion is to open shorts in the price range of 30300-30500 and longs in the price range of 29500-29200.
Ethereum (ETH) ended its 5-day decline today. Although there is no sign of reversal in the short term, it has at least stopped falling. From the on-chain data, Ethereum's total locked value (TVL) remains stable at $26 billion, but the staking rate on the beacon chain continues to rise. Yesterday, 42,000 new stakes were staked, 18,000 were unlocked and withdrawn, and the net inflow was more than 20,000 per day, but TVL did not increase. This shows that the chain has experienced a high-leverage to low-leverage situation. However, in the long run, staking is more stable than mining or lending, so the long-term risk is lower. The short-term trading recommendation is to open shorts in the price range of 1920-1940 and longs in the price range of 1850-1870.