Yesterday, the overall market weakened again, and BTC even broke below the 60,000 level. I believe this round of decline is mainly driven by three overlapping factors:

1️⃣ A pullback in U.S. tech stocks, with Risk-off sentiment spreading, as funds simultaneously withdraw from the crypto market.
2️⃣ Leveraged funds are clustered and then liquidated in a cascade; consecutive declines trigger large-scale long position liquidations, creating a chain sell-off and further amplifying short-term volatility.
3️⃣ ETH is still weaker than BTC. The ETH/BTC exchange rate continues to face pressure, indicating that market risk appetite remains low, with funds more inclined to stay in BTC rather than flow into altcoins.
From the current baseline chart, in the short term Ethereum may rebound with support around 1551, but it weakens again at the middle line of the Bollinger Band, with 1620 forming a certain resistance zone. Also, with volume shrinking again, there is a risk of further downside within the day—so do not chase higher prices in the short term.
Ethereum: Short at 1620, target 1570, stop loss 30 points#btc #eth