Bitcoin briefly broke through $75,000 during Asian early trading, reaching a six-week high, before quickly pulling back below that level. Analysts at 10x Research attributed the initial surge to the closure of large short derivative positions, which forced market makers to buy Bitcoin, pushing up spot prices. However, the rapid pullback in gains and the lack of significant bullish call buying suggest that this rally was driven more by hedging position liquidations rather than new bullish sentiment. Bitcoin's failure to hold the key resistance level of $74,400 indicates that traders remain cautious, with major altcoins such as Ethereum and Solana also pulling back from intraday highs.

The afternoon trend was somewhat stronger than at midday. I’ve been hesitant to open short positions after noon, mainly because before 4 PM, ETH’s support levels are roughly around 2292 to 2288. Although the 2-hour chart shows a death cross signal, there is support near 2262 below, and the 4-hour and longer timeframes do not show any obvious bearish divergence. The downward momentum seems insufficient, making it a bit painful to hold short positions at this point. As mentioned this morning, when the price was around 2378, a short scalp to 2336-2316 could be considered, but that move has already played out, so it’s not suitable to repeat the same operation. For more aggressive traders, considering long positions around 2292 could be an option. Conservative traders avoid this area mainly because they feel the risk-reward ratio isn’t attractive enough—if the price breaks below this level, the stop loss might need to be moved back by several dozen points, which isn’t very cost-effective. As previously mentioned, if the price breaks through 2336, the safety of chasing longs is actually higher than entering longs on a retest of 2292. 2292 is a key level to watch right now. As long as the price can break through the small bearish candle on the left around 2328, the trend could quickly reverse upward, turning 2292 into the low point of a “V” shaped bottom. Therefore, long positions entered after such a breakout tend to be more reliable in actual trading. Bitcoin follows a similar logic—if it breaks through 74,600, chasing longs can also be considered. Follow Mo Yan, focus on contract and spot ambushes, the team still has positions available, get on board quickly: #币 $BTC $ETH

Why is Lao Shen still bullish on Ethereum in 2026! First, I've lost quite a bit on Ethereum. But Bitcoin makes it very difficult for ordinary people to achieve financial freedom without touching high-leverage perpetual contracts. Ethereum operates under a mild inflation model in normal circumstances, but once a bull market arrives, it switches to a mild deflationary model, with the total supply essentially locked at 120 million coins. After RWA forced staking, if by 2028 there's really $2 trillion running on Bitcoin's chain globally, it would require $300 billion worth of Ethereum for staking and locking up. Even if Ethereum's price reaches $10,000, just the staking amount alone would consume 30 million coins, which equals half of all Ethereum being locked up. Leaving all sorts of policies aside, purely from a timing perspective, Ethereum is guaranteed to have a place in the next bull market. Among mainstream cryptocurrencies in the industry, if ordinary people still have a chance to turn their lives around, it's most likely going to be Ethereum.