In the past two days, Ethereum fell back twice to the technical support of 3500 (the lowest level was 3509 yesterday morning and the lowest level was 3516 this morning). Generally speaking, after the technical bargain hunting above this support level is exhausted, the support level will be lost, so the probability of Ethereum falling back to 3500 is relatively high.

The reason for the continuous plunge of Bitcoin over the past two days may be due to Google. According to the latest news, a quantum chip developed by Google has made a cosmic-level breakthrough in computing. In benchmark tests, the Willow chip completed a 'standard benchmark calculation' in less than five minutes, while even the fastest supercomputers today would take '10 to the power of 25 years' to complete this calculation — a number far exceeding the age of the universe.

If this chip is applied to Bitcoin mining, then the remaining coins will basically have no other miners involved; they will all be mined by this machine, which will completely eliminate miners, and decentralization will cease to exist, leading to panic selling.

As a result of this news, the market experienced a significant drop in the early morning. This major adjustment is very similar to the one on the 6th, with both occurring in the early hours, causing many to wake up to find their positions wiped out.

The goal of the manipulators is clear: to eliminate long leverage while the Asian market is resting, keeping the market light, thereby smoothly initiating a price increase. There is a saying in the crypto circle: when others are fearful, I am greedy; often, the best entry point comes after a significant adjustment. Stay steady and hold on; the bigger the storm, the more valuable the fish!!!

Returning to today's daily BTC market analysis, from the K-line perspective, the 1-hour level shows an uptrend, the 4-hour level shows a weak rebound, the 12-hour level shows a downtrend, and the daily level shows a downtrend. The intraday resistance level is $98,500, and the support level is $94,000.