The market today experienced a significant shift. Bitcoin suddenly saw a surge in volume in the afternoon, directly breaking through the 90,000 level, with the lowest point reaching 89,588. Ethereum also couldn't hold up, falling below its previous low to 3,089. The subsequent rebound appeared weak, and both assets ended up oscillating at low levels—Bitcoin around 90,000 and Ethereum around 3,100.

The signals for this decline are very clear. First, the key support levels were completely broken, indicating that a short-term bearish trend has taken shape. Second, the rebound lacked volume, a typical sign of a weak correction. The market logic has also shifted: from the previous "testing support" to now "rebound encountering resistance." Additionally, some ETF funds are exiting, adding selling pressure.

The key focus now is on tonight's unemployment benefit data and tomorrow's non-farm employment report—these two figures will directly influence the Fed's rate cut expectations and could be turning points for the market's stability. Before the data is released, the market is likely to continue consolidating at low levels without a clear direction.

Trading advice: Don't rush to buy the dip, as it's easy to get caught. Those with unrealized losses can reduce positions or lower leverage during rebounds. Those without positions should wait and see what the data reveals. From a technical perspective, short-term resistance for Bitcoin is in the 90800-91200 range, with support at 89600; for Ethereum, resistance is at 3120-3140, support at 3080. Follow the trend and prioritize risk management.