Data Analysis:

According to the current market clearing map, the market is overall dominated by bulls. Based on the current Bitcoin price of around 119,900 USD, if the market fluctuates up and down by 2,000 USD and rises again to around 121,900 USD, it is expected that the total amount of short positions that can be cleared will be about 2.2 billion USD. Conversely, if the market drops to around 117,900 USD, the total amount of long positions that can be cleared is expected to be about 1.38 billion USD.

According to the current Ethereum liquidation map, Ethereum is currently dominating the market with a bullish trend. Based on the price around $4618, if it fluctuates up or down by $100 and rises again to around $4718, it is expected that approximately $1.04 billion of short positions could be liquidated. Conversely, if Ethereum drops to $4518, it is expected that approximately $946 million of long positions could be liquidated.

Bitcoin and Ethereum spot ETFs saw a net outflow of 45.5 million dollars and a net inflow of 60.3 million dollars yesterday.
Market Viewpoint:
Currently, the market is in a sideways consolidation on the 4H chart, while Ethereum is showing an overall upward trend on the 4H chart. This indicates that market institutions are pushing Ethereum up, and it also suggests that the market and Ethereum are taking turns to rally, which has allowed most altcoins to follow suit and rise as well.

Personally, I believe that based on the current pace of institutions pushing up Ethereum, it can easily approach around $5000. Although last night's CPI data was slightly lower than market expectations, it does not prevent the market's anticipation of a Federal Reserve interest rate cut in September, which has once again made market sentiment more positive and optimistic. Therefore, as Ethereum pulls back, continue to enter the market at lower prices. However, as it keeps rising, the risk factor will also increase, so everyone should pay attention to the risks and remain rational.

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