$BTC $ETH From a technical perspective, the market has established a downward trend. All time frame moving averages are in a bearish arrangement, and price upward movement is consistently constrained by the upper boundary of the channel. The buying power of bulls is weak, and the rebounds that occur are generally accompanied by shrinking transaction volume, with the price increases difficult to sustain, quickly reclaimed by bears, indicating that bears still hold the dominant position in the market.

In terms of operation, continue to maintain the bearish outlook proposed in the morning.