Market Analysis:

The current short-term market will continue to fluctuate and consolidate, with BTC and ETH repeatedly testing the 70,000 and 2,000 levels. Beware of trap setups for a bullish move! In the past 24 hours, over 90,000 traders were liquidated, totaling 330 million, with both bulls and bears suffering losses. Panic sentiment has eased but not disappeared.

Macroeconomic Outlook:

1. The Federal Reserve has a 77.3% probability of not cutting interest rates in March, with a hawkish stance still dominant, making rate cut expectations unlikely;

2. U.S. stocks are volatile, and the positive effects of the previous rebound are fading, with crypto market trading volume continuing to shrink;

3. ETF capital flows are diverging, with Bitcoin ETF still facing net outflows. Institutional exit trend remains unchanged, with no signs of large-scale inflows;

4. Domestic authorities have cracked down on illegal virtual currency activities across 8 departments. The impact on the global crypto market is limited, but ongoing suppression of domestic capital inflow indirectly affects market liquidity.

Trading Suggestions:

Attempt Long Positions: BTC 70,000-70,500, ETH 2,050-2,080, establish positions after stabilization

Attempt Short Positions: BTC 71,500+, ETH 2,100+, try light short positions

Special Reminder: Do not be fooled by short-term volatility. Avoid heavy positions and emotional trading. Enter and exit quickly, and strictly adhere to stop-loss rules.