The cryptocurrency market showed a fluctuating trend yesterday. The daily chart of Bitcoin (BTC) presented a "long wick candle" pattern, with prices fluctuating between $117,543 and $114,640, resulting in an amplitude of 2,903 points. Although it closed near $116,000 and did not completely fall below the daily chart support, the rapid decline after a rebound in the early morning suggests a lack of current market momentum.

Ethereum (ETH) also performed weakly, closing at $4,345, failing to hold the key level of $4,350. During the day, it briefly dipped to around $4,200, and although there was a rebound, it was limited in strength, with a maximum touch of only $4,390, failing to challenge the $4,400 level, reflecting a significant lack of overall rebound momentum.

The altcoin market continues to be plagued by a lack of liquidity. During the previous rise of ETH, altcoins already showed weakness; now that BTC and ETH are experiencing high-level corrections, the weakness of altcoins is even more apparent. However, due to insufficient liquidity, although altcoins are falling in tandem, the decline is relatively controllable, maintaining a proportional drop compared to BTC and ETH, with some coins even experiencing smaller declines than ETH. This 'weak follow-through' trend essentially reflects the sluggish market conditions caused by the current lack of liquidity in the altcoin market.

Looking ahead to today, market participants need to closely monitor the trend of BTC. The rebound of BTC in the early morning showed weakness, especially on the four-hour chart, which may indicate that the market will continue to maintain a volatile state in the short term. Investors should remain vigilant, closely observe market changes, and manage risks appropriately.