#BTC Ethereum is fiercely contesting the important level of $4200. The current market trend is extremely volatile, with pump moving as swiftly as a hot knife through butter, and the fall as rapid as a torrent. Recently, the market has experienced a process from frantic shorting to continuous downward movement and then to a long order explosion. The $4200 level has become the focus; if it can break above $4700, it may trigger $3.1 billion in long orders and short order liquidation; while if it falls back to around $3900, it may lead to $1.7 billion in long order liquidation.

The current market is filled with panic, and the number of Ethereum staking withdrawals remains high. However, it is worth noting that MicroStrategy, major investors, institutions, and U.S. stock funds continue to buy within this range. Despite the poor short-term market performance, these signals still support a bullish outlook for Ethereum and the overall market in the second half of the year. However, we need to closely monitor the data trends over the next two days to confirm whether there will be a final downward impact.
The Federal Reserve's meeting minutes will be released tomorrow at 02:00. We need to pay attention to the following aspects: First, this is the first time in over 30 years that two officials have voted against, as they lean towards a 25 basis point rate cut, while the market expectation ranges between 50 to 75 basis points. Second, whether internal conflicts have intensified under the ongoing pressure from Trump and the backdrop of renominating candidates for Federal Reserve Chair. Lastly, we need to watch for possible rate cut signals in September.
The 4-hour chart of Bitcoin shows a support level at $112,889 and a resistance level at $114,951. The 4-hour chart of Ether shows a support level at $4,139 and a resistance level at $4,265. The daily fear index is 45, indicating a fear zone, with a long-short ratio of 45.3% to 54.7% on the 4-hour chart.
Today's hot news includes: Bitwise predicts that Bitcoin will outperform traditional assets in the next decade with reduced volatility; Tether Treasury has minted 1 billion USDT on the Ethereum network; analysts expect Powell may avoid giving clear signals for a September rate cut in the upcoming Jackson Hole speech; 69 Ethereum treasury companies hold over 4 million ETH, with the top three companies holding over 10 billion USD worth of ETH.
#ETH Hits New ATH