#密码资产动态追踪 Bitcoin is sawing back and forth around $90,000, and this market movement shows that bullish sentiment is insufficient. From a funding perspective, a major spot Bitcoin ETF has experienced net outflows of nearly $400 million in the past three days, with many large holders exiting. Moreover, the market is trading at a negative premium, indicating everyone is waiting for opportunities. The short-term risk zone lies between $92,500 to $93,000, where liquidation depth is considerable and bears can easily push prices down. If it can hold above $89,000, that would count as temporary stabilization.

The Ethereum situation is more interesting—stuck between $3,090 to $3,100. Yesterday around 3 PM it reported $3,093.63, barely moving in an hour. From the K-line perspective, the Bollinger Bands have tightened considerably recently, which is a signal before a reversal. The MACD is also clashing, with bears having the upper hand but lacking strength to pursue further. The funding situation is intriguing: the $660 million position accumulated last week has a cost basis precisely at current price levels. Combined with imbalances in staking supply and demand, this actually provides price support. Above at $3,100, resistance is solid (coinciding with the Bollinger Band upper rail); below at $3,082.78 is support. Squeezed on both sides, a breakout in either direction will determine the subsequent trend.

To be honest, mainstream coins lack catalysts right now, and everyone is fishing in altcoins. Recently, coins like Whitewell managed to surge to $200 million market cap in a short time, indicating capital is not being choosy. Behind this reflection lies the industry's recognition that 2026 is the true critical year for crypto infrastructure implementation—this is not an era of pumping through storytelling. Therefore, market rhythm is already adjusting.