Bitcoin prices continued their decline yesterday, in line with market expectations. The dual headwinds of the macro environment and fundamentals are still at play. Federal Reserve Chairman Powell's hawkish remarks further weakened expectations for an interest rate cut, causing a setback in market confidence. It is expected that the market may continue to decline in the short term, and we need to remain patient, especially paying attention to this Friday's non-farm payroll data, which will have an important impact on the market trend this month.

Ethereum has fallen in step with Bitcoin. Under the influence of the macro environment, the market outlook is still not optimistic. Price is once again approaching the lower edge of its trading range, and the overall picture remains grim. Ethereum is at risk of further declines as macro confidence falters. In the current market environment, everyone should adopt a defensive strategy. For the altcoin sector, it has also followed the correction of mainstream currencies. Some currencies have fallen significantly. It is recommended to stay on the sidelines and reduce operations.