Today, the cryptocurrency market is showing a volatile trend, with Bitcoin and Ethereum both experiencing significant pullbacks.

In terms of Bitcoin, it once rose to 114,914 in the early session, but then faced strong selling pressure, dropping to a low of 110,484. The short-term moving averages show a clear suppression trend, and the price movement has formed a downward divergence pattern. After a sharp drop and a brief stabilization, Bitcoin has fallen again, showing an overall bearish trend. If it cannot effectively break through the current resistance, it may continue the downward trend.

Ethereum is also under pressure, having encountered a large sell-off after reaching a high of 4,957 in the early session, which led to a rapid decline. The short-term moving averages have formed a bearish arrangement, putting significant pressure on the price. Despite a brief period of consolidation after the sharp drop, it failed to effectively break through the moving average resistance, and subsequently fell back to a low of 4,667. Currently, the overall trend for Ethereum is bearish, and it may continue to decline in the future.

Investors should closely monitor the Bitcoin performance in the range of 114,600 to 113,500, as well as the Ethereum performance in the range of 4,850 to 4,800. If prices continue to decline, Bitcoin may test the support levels of 111,900 to 110,400, while Ethereum may test the area of 4,660 to 4,620.

In the current market environment, investors need to remain cautious, reasonably control risks, closely monitor market changes, and adjust investment strategies in a timely manner.