CPI and PPI economic data were released, and the market moved higher accordingly. BTC touched the 65,000 level, while ETH held steady near 1,950.

But remarks from a newly appointed Federal Reserve official that leaned hawkish directly dampened the longs’ appetite to buy.
In the high-level market, prices swung violently. A large number of leveraged orders chased the rally and were repeatedly triggered into forced liquidations. The total daily global liquidation amount was nearly $198 million, and most of the losing orders came from traders who bought into the rally at high levels.
Overseas markets also weakened in tandem: US stocks fell, and Japanese and Korean stock markets showed unusual moves. Risk-off sentiment warmed up, and related correlated assets followed lower. There is still room for a pullback in the short term.
The overall uptrend structure has not been completely broken. After short-term consolidation, there is still a possibility of pushing higher again and testing the resistance level above.
Reference plan:
BTC: Buy on pullbacks in the 63,000—63,300 range, looking toward 65,500—66,500
ETH: Buy on pullbacks in the 1,810—1,830 range, looking toward 1,950—2,000#ETH站稳1900美元 $ETH