#数字资产市场洞察 Evening Market Commentary

The rebound didn't hold this time, and the situation has turned weak again.

Rising from 84400 all the way to 90600, it looks quite strong, but the core issue is the fierce sell-off above 90500. Once it rises, it gets hit hard, and there is hardly any resistance during the pullback, indicating that this surge is essentially a quick in-and-out behavior of funds, not a signal of a strong market trend. After that, the price of the coin plummeted, and now it's hovering around 87500, having basically eaten back more than half of the space that was hard-earned before.

The current position is quite sensitive, but it's not particularly strong. There are indeed some buyers bottom-fishing and taking short positions around 87500, so we can see the price consolidating here, but don't be deceived—this kind of sideways movement is just a pause after a decline; the bulls have not yet taken control of the situation. As long as it doesn't stabilize below 87500, the pressure from 88500 to 89000 will always loom overhead, and any rebound can easily be pushed back down; once 87500 is breached, we will have to test 86000, and in the worst-case scenario, it could directly drop to around 85000.

On the operation side: a bearish outlook around 88000-88500, with a target towards 86500-86000, and in extreme cases, 85000.