30 Seconds to Understand the Entire Night

From 0:00 to 9:00 on 5.23, BTC and ETH both overall broke into a clearly one-way downtrend, with bears taking control throughout the night. In the early morning, BTC peaked at around 77070, then continued to shake and fall all the way down, with the low touching around 75184. The pullback within the range was close to 1,900 points, indicating that sell pressure above kept releasing, while short-term bulls lacked sufficient follow-through. ETH’s price action was synchronized and also weak: its early-morning high was around 2129, then it quickly plunged to around 2051. The total drop was relatively large, and it clearly moved in tandem with BTC.

From the liquidity side, during the nighttime decline, trading volume expanded somewhat, suggesting that panic selling and high-leverage long positions were concentratedly being released. In the short term, funds are more inclined to take a defensive stance. Technically, both BTC and ETH are in a downward channel. MACD bearish momentum is dominant, KDJ is dulled in low territory, and RSI has entered a weak—even an oversold—area. Although there is a short-term need for a correction, the strength of any rebound still needs to be observed. As for news, there has not been any obvious strong positive catalyst yet; the market is being driven more by declining risk appetite and capital fleeing. Overall, the core keywords in the crypto market last night were: failed attempts to rally, bears continuing to dominate, consolidation at low levels, and cautious sentiment.#特朗普称美伊正敲定协议细节 $BTC $ETH