BTC experienced a sharp correction from a low point, dropping to around $62,800-$64,000, followed by a strong rebound to approximately $70,000, with sideways consolidation. During this period, short-term bulls were passively forced out due to liquidations and margin calls, and a large amount of perpetual contract funds were forcibly liquidated during the decline. Market fear indicators once reached extreme fear levels. ETH also experienced a 5–15% oscillation downward and subsequent recovery within this range, with intraday prices fluctuating around $2030-$2110, generally trending lower. The market characteristics during this phase include high volatility, rapid shifts in capital flow, and a significant decline in risk appetite. Meanwhile, both BTC and ETH market sentiment indicators show an accumulation of panic sentiment.

From a technical perspective, BTC rebounded from support at $61,000-$62,000, forming a V-shaped recovery, but remains in a medium-term downtrend channel. If it cannot hold above $70,000 on the daily chart, there is a risk of further consolidation and testing the $65,000-$66,000 level; a break below could test the psychological level of $60,000. ETH perpetual contracts also show a pattern of lower highs and lower lows. If it breaks through the resistance zone at $2150-$2180, a short-term bullish reversal can be confirmed; otherwise, it may fall back to support at $1950-$2000. In terms of trading strategy, Bitcoin is currently more inclined toward short-term bullishness, but the medium-term trend still requires attention for continuation; Ethereum maintains a range-bound approach, with short-term opportunities for long positions on rebounds, and considering short positions if key supports are broken. Stop-losses should be strictly placed below support levels, prioritizing risk management. Overall, the current structure favors a rebound in a correction phase, with a preference for long entries at support lows, and it is not recommended to chase highs blindly. #当前行情抄底还是观望？ $BTC