The market is in a super major downtrend, with bulls continuously breaking support levels and no effective support platform to stop the decline. The disappointment of rate cut expectations, Middle East oil crisis, and repeated inflation concerns create a triple negative pressure, intensifying panic. Price has pulled back to test the upper rail of the February box range. If it fails to quickly recover, a major downtrend channel will open.

BTC
Testing 69,000 support, with three consecutive breaks from 74,400 to 71,400 to 69,000 in recent days. 67,150–69,000 is the final defensive line. Breaking below means the rebound has ended and the downtrend channel will activate; watch for potential consolidation in the 70,250–71,400 range in the night session.

ETH
Drop of over 10% in three days after topping at 2,380, severely oversold. 2,038–2,075 is a critical zone for catching lows; unlikely to break in the short term. 2,200–2,233 represents the top, with heavy selling pressure from trapped positions in 2,170–2,200; focus on whether 2,150 can hold as intraday support. $BTC $ETH