Bitcoin and Ethereum have recently slowed their rise, which is related to the latest economic data released. Although the Consumer Price Index (CPI) has declined, the Producer Price Index (PPI) has significantly exceeded expectations, making market expectations for interest rate cuts unclear. This complex economic environment is like ordering an iced Americano on a hot summer day but unexpectedly receiving a hot coffee, leaving one at a loss.

Currently, the cryptocurrency market is showing an interesting trend. As the two largest cryptocurrencies by market capitalization, Bitcoin and Ethereum should have been the top choices for investors seeking a safe haven, but funds have shifted towards the US dollar. However, from the market movement, there are still signs of a rebound, and a recovery may occur in the short term. Nevertheless, the long-term trend still faces resistance.

From a technical perspective, 117000 may become an important support level. If a rebound occurs, the 119000 area can be monitored. For investors with a higher risk tolerance, consideration can be given to taking profits near 119500. Further observation suggests that 121000 may become a key resistance level; if it fails to break through, it may retrace to 118000.

Overall, the cryptocurrency market is at a delicate balance point. Investors need to closely monitor changes in global economic data and market sentiment, while also paying attention to technical trends in order to make informed investment decisions. In this uncertain market environment, maintaining a cautious and flexible attitude is crucial.