Bitcoin started to pull back after surging to the high of 94,700, and after breaking below the middle band of the Bollinger Bands, the decline accelerated. In this wave of decline, bearish candles clearly dominated, and the body of the candlesticks is not small, indicating that the bears are still exerting strong pressure. However, there is good news: recently, the volume of the bears has been gradually shrinking, and the downward momentum is less fierce.

The next key level is the 90,000 integer mark. If it cannot hold, then support levels below need to be tested, with the 89,000 to 88,500 zone becoming a litmus test. If this area can hold steady, the rebound could potentially reach around 91,500.

Ethereum should not be overlooked either; the 3,100 level is very critical, and its performance should be closely monitored.