The market movement from 9 AM to 12 PM on May 24th was generally characterized by a "weak consolidation after a surge and subsequent pullback." Bitcoin rebounded from around 76590 in the morning, reaching a high of 76983, but the bullish momentum was insufficient, leading to a pullback from the highs and a retest of the 76600 level, forming a small-scale surge-and-pullback structure in the short term. Ethereum followed suit, reaching a high of around 2126 before gradually falling back to around 2116, generally moving in tandem with Bitcoin.

From a funding perspective, while trading volume increased during the morning's rally, subsequent follow-up buying was significantly insufficient, indicating that the short-term movement was more of an oversold bounce than a trend reversal. Some highly leveraged long positions were concentrated above 76900, leading to profit-taking and selling pressure after the surge. Technically, the MACD short-term red bars are shrinking, the KDJ has formed a death cross at a high level, and the RSI has fallen from the overbought zone, indicating that short-term momentum is weakening. Technically, Bitcoin is facing resistance around 77,000, while Ethereum also faces significant selling pressure in the 2125-2130 range.

The news flow was generally stable, with US stock futures showing a slightly weak trend, which put some pressure on cryptocurrency sentiment. ETF inflows continued, but the increase slowed, indicating a decline in market risk appetite. Overall, the morning's market action leaned towards a consolidation phase after a weak correction, with cautious market sentiment and short-term funds primarily engaging in buying low and selling high. $BTC ‌ $ETH ‌