Track real-time hot topics in the currency circle, seize the best trading opportunities. Today is March 1, 2025, Saturday. I am Wang Yi Bo! Good morning, coin friends ☀ hardcore fan check-in👍 like and get rich 🍗🍗🌹🌹

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In the complex ecosystem of the global financial market, the overnight US stock market presented a positive trend. The three major indexes collectively rose, with the Dow Jones Industrial Average up 1.39%, the Nasdaq Composite Index climbing 1.63%, and the S&P 500 Index also rising by 1.58%. Large-cap technology stocks generally saw gains, with Tesla and Nvidia both up nearly 4%, demonstrating a strong upward momentum. However, in sharp contrast, the current cryptocurrency market has plunged into a chaotic situation of long and short speculation, with market trends being largely influenced by Trump's policies. Trump once again wielded the tariff stick, triggering deep concerns about the global economic outlook in the market, leading to a continuous decline in the cryptocurrency market since the beginning of this week. In just one week, the price of Bitcoin successively fell below the key psychological support levels of $90,000 and $80,000, plunging the market sentiment into extreme panic. After experiencing this round of sharp declines, the market briefly saw a small rebound, but this rebound was short-lived. A thorough analysis of various technical indicators reveals that the bearish forces still firmly control the overall market. Therefore, the market correction this weekend and the trend of market sentiment recovery have become the focus of close attention for investors.
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After experiencing a long period of wide-ranging fluctuations, Bitcoin finally came under pressure at the key resistance level of $100,000. Subsequently, the price trend sharply reversed, showing a one-way downward trend. Currently, the lowest point of Bitcoin price has reached $78,200. Such violent price fluctuations undoubtedly constitute a wild oscillation for the cryptocurrency market. Overnight, after creating a recent low of $78,250, Bitcoin quickly launched a strong rebound. During the rebound, the Bitcoin price touched the $85,000 resistance level three times, but each time it fell back due to pressure. It is worth noting that the Bitcoin price also started a sharp decline from this level yesterday. After a large-scale price washout and the evening's V-shaped reversal and extension, as the market structure gradually corrects, the price fluctuation range has also begun to converge. From the current technical analysis of the market, on the four-hour time frame, the Bitcoin price shows an upward trend with consecutive positive candles, and the price is currently below the middle line of the Bollinger Bands. However, the bullish momentum seems slightly exhausted at this stage, failing to demonstrate sufficient upward breakthrough momentum, and the price has not been able to effectively achieve an upward breakthrough. This phenomenon profoundly reveals that the current upward trend in Bitcoin price is more of a correction of the technical indicators after the previous oversold state, rather than a genuine bullish reversal. After such a significant decline, the market needs a considerable amount of time to recover. Based on the current market situation and technical analysis, it is expected that Bitcoin prices will show a trend of oscillation and rise this weekend, but the upward momentum will not be substantial. After all, starting from the lowest point, the Bitcoin price has rebounded by nearly 6,000 points, accumulating a certain amount of profit in the short term, and facing significant selling pressure from above. The bearish trend still somewhat restricts the upward space for prices.
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The price of Ethereum has also experienced ups and downs. Starting from the high point of $2313 in the morning, it has fluctuated all the way down to the low point of $2070. In the evening, there was a rebound in the price of Ethereum, reaching a high point of $2254. However, after such a rebound and correction, there is still a high possibility of further decline in the market. From the current market situation, as long as there is no sustained and strong breakthrough of key resistance levels by the bulls, it is difficult to completely break the bearish market pattern. Therefore, despite a certain degree of rebound in the market, the overall trend dominated by the bears is still hard to change. Looking at the technical analysis on an hourly basis, the Ethereum market shows a continuous upward trend, eventually successfully breaking through the middle track of the Bollinger Bands. However, when the price further moves above the middle track of the Bollinger Bands, it is clearly suppressed by the upper track, leading to a slowdown in the bullish trend. As the bulls have been repeatedly blocked by key resistance levels in previous rebound processes, it clearly indicates that the overall market sentiment is still significantly bearish. Taking everything into consideration, Ethereum is likely to continue the downward trend after the rebound correction this weekend.
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