Track real-time trends in the crypto world and seize the best trading opportunities. Today is Thursday, July 24, 2025. I am Wang Yibo! Good morning to all crypto friends ☀️ Daily attendance for die-hard fans 👍 Like and make a fortune 🍗🍗🌹🌹

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U.S. stocks closed higher on Wednesday, with the Dow Jones rising 1.1%, the S&P 500 up 0.78%, and the Nasdaq increasing by 0.6%. Circle(CRCL.N) and NVIDIA(NVDA.O) both rose by 2%, while General Motors(GM.N) increased by 8.7%. According to CME's "FedWatch": The probability that the Federal Reserve will keep interest rates unchanged in July is 97.4%, and the probability of a 25 basis point rate cut is 2.6%. The probability of the Federal Reserve maintaining rates in September is 37.2%, the cumulative probability of a 25 basis point rate cut is 61.2%, and the cumulative probability of a 50 basis point rate cut is 1.6%. The overnight crypto market saw a widespread decline 📉, with Bitcoin and Ethereum breaking down 📉, trading volume drastically shrinking, and the futures market facing significant long liquidations once again!

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Bitcoin initially rebounded slightly overnight before continuing its decline, dipping to a low of 117288 before stopping the drop and rebounding. Approaching midnight, it rebounded to a high of 118707, then faced pressure and fell again. This shows characteristics of range volatility, with the price oscillating back and forth between 117300 and 118800. Analyzing the daily candlestick chart from a technical perspective, the price movement of Bitcoin exhibits an alternating rhythm of rises and falls. Although the Bollinger Bands remain open upward, the consecutive rebound highs are gradually decreasing, forming a clear "divergence" characteristic. Meanwhile, the MACD indicator shows that the red bars continue to shorten, suggesting a gradual weakening of bullish strength; the KDJ indicator has formed a downward cross, and the RSI indicator has also started to turn downwards. These signals collectively indicate that the short-term market lacks upward momentum and there is strong demand for a correction. Switching to the hourly candlestick chart, Bitcoin's price has constructed a wedge-shaped rebound pattern, currently operating at the convergence end of the oscillation range. This technical pattern, similar to a triangular consolidation, is often a precursor to a trend reversal. If the price breaks below the support level, the market is likely to initiate a new downward trend. It is advisable for everyone to closely monitor market movements and timely adjust their operational strategies.

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Ethereum, during the same period, showed a downward trend with prices declining from the morning high of 3764 to the evening low of 3526. Yesterday's rebound in Ethereum was weak, and the subsequent price movement also dropped again, indicating that the daily level correction is still ongoing. From the current market perspective, the K-line shows a significant alternating characteristic of bullish and bearish candles, with a clearly visible range of fluctuations. On the four-hour level, the trend has shown a clear downward trend that has effectively broken through the support of the Bollinger Band's middle line, initiating a test towards the lower band area. The latest recorded long bearish K-line has no significant upper shadow, highlighting the absolute dominance of bearish forces, accompanied by significant volume, further confirming the validity of the downtrend. The upper resistance to watch during the day is around 3650. If a rebound cannot stabilize afterwards, it is expected that the correction will continue. Therefore, the daily operation suggestion is to short in the direction of the trend.