7.28 Morning BTC/ETH Plunge Analysis

I. Macro Market Sentiment (Main Triggers)
1. Key overseas policy meetings are approaching, and market wait-and-see sentiment is rising. Many funds choose to reduce their positions. Market worries that the policy tone may be cautious, easing expectations have cooled, and risk assets collectively face pressure and adjust.
2. The overnight performance of overseas technology sectors weakened, and related track stocks generally fell back. Mainstream digital assets and overseas growth names are highly correlated; as sentiment outside the market turned lower, selling pressure inside the market increased.
3. Geopolitical tension eased, safe-haven demand declined, and in the short term there is a lack of capital support, putting the market under pressure.

II. Changes in Capital Flows

The pace of incremental funds that had been steadily flowing in slowed down, and the willingness to enter actively decreased.
After this round rebounded and rose from the lows, it accumulated a large amount of short-term profit-taking chips. Many funds chose to take profits at higher prices, creating concentrated realization pressure.

III. Technical Structure and Momentum Amplifying the Adjustment Magnitude

1. Repeated attacks on the key resistance area failed to hold; after multiple attempts, price was repeatedly pressured and fell back. On the four-hour level, a pressure-forming pattern was formed. Bullish momentum continued to be consumed, and there is inherently a need for correction. A weak signal emerged where the two major mainstream assets simultaneously saw their highs gradually move downward.
2. After key support was broken, panic sentiment spread across the market. Concentrated selling behavior amplified the adjustment magnitude and accelerated the decline.
3. This round of上涨 lacked sustained incremental capital support and relied mainly on short-term sentiment. Once buying strength weakened, there was insufficient follow-through, and the bears gained the upper hand. $BTC $ETH