#深度创作营 Bullish momentum wanes! Bitcoin retraces to $66,000, becoming an important support level, while Ethereum continues its fight around $2000!

Early yesterday morning, Bitcoin and Ethereum surged simultaneously, then entered a phase of continuous pullback and correction within the day; Federal Reserve officials released a series of hawkish statements, significantly cooling market expectations for rate cuts. The decline in US stocks directly dragged down the crypto market, and both coins continued their weak, slow decline overnight.
From a technical perspective, both Bitcoin and Ethereum are facing resistance from short-term moving averages and the midline, with insufficient bullish momentum. The likely trend for the day is continued weak consolidation. Key support and resistance levels should be closely monitored for breakouts. The bulls and bears will enter a critical phase of their battle.

1. Macro Analysis: Hawkish Signals Pressure Risk Assets Decline Recently, Federal Reserve officials have been speaking intensively, emphasizing that as long as inflation has not clearly fallen back, rate cuts are not advisable. Some officials even mentioned that if inflation rebounds, rate hikes should be reconsidered, directly dashing market expectations for easing. As a result, the probability of a rate cut in March has dropped to zero, and the June rate cut expectation has also been significantly lowered, with the market now generally expecting high interest rates to persist longer.
Against the backdrop of tightening macro liquidity expectations, the three major US stock indices have all weakened, with the Nasdaq leading the decline. Growth stocks and high-risk assets are under valuation pressure. Bitcoin and Ethereum, as typical risk assets, continue to show increased correlation with US stocks. Coupled with profit-taking after the recent surge, the market lacks new positive catalysts, ultimately leading to a pattern of rising and falling, with overall cautious sentiment among investors.
2. Technical Analysis: Both Coins Show Weakness, Key Levels Clear Bitcoin (BTC) daily chart shows price under pressure at the upper and midline levels, with rebound strength clearly limited; 4-hour MACD indicator continues to shrink, indicating diminishing bullish momentum; hourly short-term moving averages are turning downward, forming short-term resistance.
Short-term support: $66,000 (4-hour midline). Falling below this level will test the $64,500 (daily lower band) strong support. Short-term resistance: $68,500 and $70,000. Only a strong recovery and breakthrough of these resistance levels can break the weak pattern and open the door to a new upward move.
Ethereum (ETH) shows highly synchronized movement with Bitcoin, with rebounds and retracements overall remaining weak. The $2100 and $2150 levels act as strong resistance points. After a slow decline below the $2000 mark, it quickly rebounded but then fell back into the region amid weak correction, with fierce battles between bulls and bears. Short-term support: $1950 (4-hour midline). Short-term resistance: $2050 and $2100. All indicators suggest that short-term consolidation is still needed, with limited rebound strength.
3. Market Outlook
In the short term, Bitcoin and Ethereum are expected to continue their weak correction and consolidation pattern, with key support levels being the main focus. If $66,000 (BTC) and $1950 (ETH) can hold effectively, both coins may rebound and attempt to test resistance levels gradually. If support levels are broken, prices will further decline, and the correction space will expand.
Mid-term trends still depend on Federal Reserve policy signals and traditional market performance. Until hawkish tones ease, a strong reversal in the crypto market is unlikely.
Operationally, it is recommended to base decisions on key levels, cautiously respond to consolidation, avoid blindly chasing rallies or panic selling, and wait for clear stabilization signals before making medium-term arrangements.