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The current market has moved from a one-sided rebound into a phase of three-way competition involving institutional buyers, on-chain “big whales,” and short-term speculative capital.
BTC has continued support from institutional funds, while ETH faces a test of whale selling pressure, and the altcoin sector is taking on the risk capital from “资J.”
What truly determines the next direction isn’t how much the price has risen, but whether support continues to hold near 63,000 and 1,700, and whether there are clear signs that ETH sell pressure is weakening.