#密码资产动态追踪 The tug-of-war between Bitcoin and Ethereum is essentially a battle between two forces.

The bulls are confident: the expectation of a Federal Reserve rate cut has not been shattered, which is the long-term support. And you can feel that institutions are quietly accumulating below $90k; those small, incremental buy-ins may seem insignificant, but they are secretly building a base.

The bears are also not holding back. The most painful thing now is the continuous outflow from ETFs, with buying pressure "bleeding out," which directly suppresses market purchasing power. Plus, occasional geopolitical risks keep poking, causing retail investors' panic selling to come out like it's free.

Technically, the market is stuck in a range between $88k and $93k, becoming the "Chu River and Han Boundary" for bulls and bears. But the problem is that trading volume has shrunk, and the market is clearly experiencing "decision paralysis" — whether to buy or sell, everyone is waiting for a signal.

In the short term, the pressure of capital withdrawal is real, but the long-term logic remains unchanged. This stalemate will ultimately be broken by some "bullet," and the market is waiting to see who will play their hand first. $BTC The performance of ETH at this point will largely determine the recent trend.