Today's cryptocurrency market overall maintains a high-level oscillation structure. The mainstream coins are relatively stable, but the upward momentum has slowed compared to earlier periods. The market is gradually transitioning from emotion-driven phases to structural game stages. Divergence between bulls and bears has begun to emerge, and trading volume has not been able to sustain an increase, indicating that funds are more cautious at this position. Short-term chasing emotions have clearly cooled down, but the overall trend has not shown signs of systemic weakening.

From the perspective of Bitcoin, the price is still operating above the key support range, and the mid-term trend remains intact. Currently, it is more of a consolidation after an increase rather than a reversal. The previous high area above still constitutes some pressure, and without a significant breakout in volume, oscillatory digestion will be a healthier trend. Ethereum's relative strength against Bitcoin has improved recently, indicating that some funds are beginning to pay attention to its potential for a rebound. However, the short-term trend still heavily relies on the market's rhythm; only under the premise of Bitcoin's stability can ETH more easily exhibit a relatively strong structure.

In terms of altcoins, the market's rotation characteristics remain evident. Funds are more inclined to make structural layouts in directions with fundamental expectations or narrative support, while the previously high-gaining thematic coins and emotional MEME coins are beginning to show correction pressure. This stage is no longer suitable for indiscriminate chasing of highs, and it tests the ability to control rhythm and position. The opportunities for strong coins to retrace and maintain their trends are worth waiting for with patience.

Overall, the current market has not entered a comprehensive bearish phase, but it has clearly transitioned from a 'one-sided bullish' favorable market to a volatile market that requires discipline and patience. Controlling positions, reducing trading frequency, and setting reasonable take-profits are more important than frequent operations. In a stage of rising uncertainty, surviving and preserving profits is itself an advantage.