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The market trend structure has been distorted during these two holiday days. The upward trend has started to decline silently, which is an invisible trap for more gains, and coupled with the recent expiration of a large number of Bitcoin options, it has added some challenges to this already fragile market. The recent decline is partly due to these factors. Once this negative news settles, I hope there will be a rebound.

Currently, the support level for Bitcoin on a smaller timeframe is around 86,500. If this level is broken, Bitcoin is likely to test the previous low near 84,500. The current trend is a volatile downward movement, so risk prevention is necessary.

Ethereum’s small-term support is around 2,880. If it drops further, it will likely test the previous low near 2,770. The current trend is also a volatile decline, with weak rebound momentum.

From the recent upward trend, market buying power has significantly diminished. Liquidity is scarce, and more funds are choosing to wait and see. The market needs a substantial and tangible positive catalyst to change the current trend and stabilize the recent fluctuations.