Recently, the trends in the Crypto Assets market have drawn attention, with Bitcoin ( BTC ) and Ethereum ( ETH ) both facing pullback pressure. BTC is testing the important support levels of $114,000 and $112,000, and whether it can hold these key positions will require close follow-up on the performance of the US stock market.

The US stock market has recently performed poorly, starting from the revision of non-farm payroll data to the successive release of various macroeconomic data, with the market continuously digesting the expectations of a rate cut in September, resulting in a continuous decline of the market. Stocks of companies closely related to Crypto Assets, such as MicroStrategy and Coinbase, have weakened for two consecutive weeks, and this trend has also affected the Crypto Assets market.

From a technical perspective, BTC's previous attempt to break through 140,000 USD was not sustained, and after a period of stagnation at high levels, it began to pull back. The trading volume has not effectively kept up, indicating a weakening of bullish strength. Currently, 110,000 USD has become a key support level; if it cannot be maintained, although it does not mean the end of the bull market, it may disrupt the market rhythm.

The situation with ETH is also not optimistic, with the recent significant drop exceeding 500 points, falling below the previous low. If it cannot stabilize in the short term, it may pull back to around 3000 USD.

Despite the pressure the market is facing in the short term, BTC remains within a bullish framework in the long term, although the pace of the increase has slowed down. Past experiences indicate that BTC usually experiences a surge after a period of consolidation. If this time it can maintain a slow but steady upward trend, the bulls still have a chance.

Investors should maintain a cautiously optimistic attitude and closely monitor the momentum structure changes of BTC. At the same time, they should be vigilant about market risks and manage their investment portfolios wisely. In this uncertain market environment, it is especially important to remain calm and rational.