The Federal Reserve remains committed to maintaining high interest rates, and combined with the ongoing escalation of Middle Eastern geopolitical conflicts, international oil prices are rising, intensifying global inflation stickiness. This has significantly delayed the Fed's rate cut cycle, and market expectations for easing continue to cool down, putting pressure on risk asset valuations.

Bitcoin has broken below the key support of 70,000, establishing a bearish structure on the daily chart. The 4-hour moving averages are forming death crosses and diverging, indicating a clear short-term downtrend, with a significant resistance to rebounds.

Bitcoin: Short around 69,300-70,000, target 68,100-67,300

Ethereum: Short around 2,060-2,100, target 2,010-1,960 1928374656574839201$BTC