Today, Bitcoin and Ethereum have broken down and are on a high-volume trend, and market panic is spreading. However, this is obviously due to the US CPI data tomorrow night and the upcoming Fed meeting. Judging from the sharp drop in the market today, the news is very lethal, but institutional analysts believe that this is also a so-called whale using vague news to smash the market.

On the other hand, according to on-chain monitoring data, as investors wait for higher prices in the bull market, the balance of Bitcoin and Ethereum users on centralized exchanges has dropped sharply. The value of Bitcoin has fallen to less than 2.3 million, equivalent to about $158 billion, and the value of Ethereum has fallen to less than 16 million, equivalent to less than $58 billion. The user balances of the two major cryptocurrencies have fallen to a four-year low, and analysts interpret this move as a bullish signal for the future.