ETH 15-minute pullback of 0.59%: BTC drops below the cloud layer, triggering capital rotation and accumulating overbought risk in the short term

From 14:00 to 14:15 (UTC) on July 10, 2026, ETH fell by 0.59% within 15 minutes, trading in the range of 1792.37–1804.5 USDT, with a 0.67% amplitude. Despite the short-term pullback, the order book buy/sell depth ratio is 1.99: buy-side pressure is about 2 times that of sell-side, indicating strong support below and keeping market attention at a high level.

The core driving force behind this move is that after BTC broke below the daily TBO cloud and returned to a strong bearish pattern, ETH showed a relative anti-drop characteristic, with a structural sign of capital rotating from BTC to ETH. The 4-hour MACD formed a golden cross signal, and technical momentum aligned with the order book showing buy-side dominance, supporting a short-term bullish rationale.

At the same time, the U.S. CLARITY Act draft is expected to be released next week, and the expectation of clearer regulatory frameworks is favorable for compliant crypto assets. As an ETF underlying, ETH benefits from this narrative. Escalation of conflict in the Middle East has put overall risk assets under pressure, but ETH still maintains relative strength in this backdrop, further validating the capital rotation logic. Note that the 1-hour RSI has already entered the overbought zone, and the 4-hour ADX of only 9.63 indicates trend strength is weak, so short-term pullback risk has accumulated.

In terms of trading, it is recommended to watch the $1,812 resistance level and the $1,788 support level. If the ETH/BTC exchange rate stabilizes and rebounds, or if ETF capital continues to flow in, the continuation of the rotation logic can be confirmed. The current attribution confidence is medium-to-low, and volatility risk still exists—please assess risk rationally before making decisions.