In the upcoming week, the financial markets are facing two major events that could trigger significant market volatility. First, the Federal Reserve's interest rate decision is highly anticipated, with market participants still divided on the future path of interest rates. If the decision leans hawkish, it could put pressure on risk assets. Secondly, the release of non-farm payroll data will also be in the spotlight. If the employment data comes in stronger than expected, it may reinforce the expectation of "higher for longer" interest rates, which could have adverse effects on the encryption market.

From a technical perspective, the Bitcoin weekly MACD indicator shows a top divergence, while the KDJ indicator is in the overbought range. These signals suggest that there may be a risk of a pullback in the short term.

In terms of on-chain data, some noteworthy trends have been observed recently. Some large addresses have transferred Bitcoin to exchanges over the past week, but there has not yet been a large-scale sell-off. At the same time, miner wallet balances have shown a slight decline, and it is necessary to continue monitoring whether this will evolve into a sustained outflow of funds.

It is worth noting that market trends are always full of variables. The current overall trend leans towards a downward direction, but the final outcome still depends on the interplay of various forces. Ethereum's recent trading volume has surpassed that of Bitcoin, which is an interesting phenomenon that the market is paying attention to. During this time of uncertainty, investors need to remain vigilant and closely monitor market dynamics and changes in key indicators.