#Gate广场创作者新春激励 Bitcoin and Ethereum "stall"? Key data tonight will set the direction, don't miss out!

Yesterday, the crypto market showed a hint of rebound, but it quickly reverted to sluggishness. Bitcoin and Ethereum seem to have hit the brakes, with no more of the previous frantic moves. Currently, the market is like a hesitant traveler, unable to move forward, yet reluctant to step back. The key depends on the reaction to two major data points today.
Market Review: Rebound Fades Quickly, Volatility Remains the Main Theme
Yesterday, Bitcoin finally touched the 90,000 mark, but lacked momentum and traded back and forth between 90,300 and 89,700 all day, like a tug-of-war. Ethereum was similar; after rising above 3,000, it couldn't hold steady, hovering between 3,030 and 2,990. When the US market opened, the trend faltered and gradually declined. Bitcoin's lowest point was around 88,500 before a slight rebound; it is now consolidating near 89,500. Ethereum also dipped to around 2,910 before bouncing back, currently fluctuating around 2,950. Overall, the market remains weak.
Macro and Technical Analysis: Lack of Positive Catalysts, Insufficient Recovery Momentum
Last night, the US November PCE data was released, meeting expectations and within normal range. The Federal Reserve is likely to keep interest rates unchanged next week. Without positive news to support, the crypto market naturally loses momentum, like a basketball game missing its core player, with no clear offensive or defensive strategy.
From a technical perspective, both Bitcoin and Ethereum only barely held their ground near the lower Bollinger Band after falling back. The four-hour MACD shows some weak momentum, as if trying to catch its breath and recover, but the RSI is flat as a straight line, making short-term upward movement difficult. In short, rebounds are easily met with resistance, and upward movement faces significant hurdles.
Today’s Guidance: Focus on the Two Major Data Points, Grasp Key Levels
There are two key points to watch today: the Bank of Japan interest rate decision and the US University of Michigan Consumer Sentiment Index final figure for January. These data points act like a "barometer" for the market; even slight movements can trigger volatility, as the market is very sensitive right now.