The international situation remains volatile, with key shipping lanes facing increasing security risks, geopolitical uncertainties intensifying; the Federal Reserve's hawkish stance has raised interest rate hike expectations, the dollar has strengthened, global liquidity has tightened, and risk assets are under overall pressure.

Bitcoin has fallen below the critical support level of 75,000 intraday, with daily chart showing a weak pattern, MACD forming a death cross downward, indicating increasing bearish momentum; the 4-hour rebound is weak, prices continue to be pressured below moving averages, with an obvious downward trend.

Safe-haven sentiment is driving funds into the dollar, combined with expectations of liquidity tightening, leading to significant outflows from the crypto market, with bulls exiting and pushing prices lower. The short-term trend is weak; it is recommended to follow the trend and go short from higher levels, avoiding blind bottom-fishing.

Bitcoin rebounds around 74,500-75,300, short at 73,500-72,000.

Ethereum rebounds around 2,290-2,330, short at 2,250-2,180.