The cryptocurrency market is experiencing significant fluctuations today, with Bitcoin and Ethereum both showing a downward trend.

In terms of Bitcoin, it once surged to 114,914 in the early session, then fell sharply, dropping to a low of 110,484. The short-term moving averages show significant resistance, and the price is exhibiting a downward divergence. Although it has experienced a sharp decline and a period of consolidation, the overall trend still remains bearish. If it cannot effectively break through the resistance level, it is likely to continue its downtrend.

Ethereum is also experiencing strong selling pressure, quickly dropping after reaching a high of 4,957 in the early session. The short-term moving averages are in a bearish arrangement, significantly suppressing the price. Despite some fluctuations and consolidation, it has failed to effectively break through the moving average resistance, subsequently dipping again to 4,667. Currently, the overall trend is bearish, and the market may continue its downward trajectory.

For traders, Bitcoin can pay attention to short-selling opportunities in the range of 113,500-114,600, with target prices between 110,400-111,900. Ethereum can look for short opportunities near 4,850-4,800, with target prices between 4,660-4,620.

It is worth noting that the cryptocurrency market carries high risks, and investors should operate cautiously and manage risks well. In addition, market conditions change rapidly, so it is advisable to continuously monitor the latest market trends and adjust strategies in a timely manner.