As of 17:00 on May 8, 2026 (UTC+8), Bitcoin (BTC) is approximately $79,400 USD (down 2.8% in 24h), Ethereum (ETH) is approximately $2,270 USD (down 3.1% in 24h), both weakening simultaneously within a narrow range, showing a slight downward trend.



I. Bitcoin (BTC) Today's Trend

• Price Range: $79,200–$81,700 USD, surged early morning then continued to decline, breaking below the $80,000 psychological level.

• Short-term Structure: 4-hour bearish alignment, Bollinger Band middle band shows clear resistance, rebound is weak.

• Key Levels

◦ Support: $79,000/$78,000 USD

◦ Resistance: $80,500/$81,700 USD

• Market Sentiment: Long-to-short ratio <1, longs are continuously exiting, with most liquidation of long positions across the network in the past 24 hours.

II. Ethereum (ETH) Today's Trend

• Price Range: $2,265–$2,347 USD, leading the decline among major coins, breaking below the critical support at $2,300.

• Short-term Structure: Weakening along with BTC, daily chart shows clear resistance, difficult to stabilize above $2,300.

• Key Levels

◦ Support: $2,265/$2,225 USD

◦ Resistance: $2,305/$2,345 USD

III. Brief Summary

• Overall Today: Receding from high levels, oscillating weakly, with strong resistance at Bitcoin’s $80,000 and Ethereum’s $2,300.

• Short-term Strategy: Focus on shorting rebounds, consider long positions only after stabilization; strictly set stop-losses, control position sizes.
BTC-1.69%
ETH-2.13%
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