This morning, the market saw a pullback, with Bitcoin's price dipping to 108300 and Ethereum touching a low of 2800. This indicates instability at recent highs, as Bitcoin's price fluctuates around the 110000 mark. After Ethereum just stabilized above 2850, the funding rate dropped to a negative -1%, leading to an increase in short-term bearish sentiment in the market.

Technical analysis shows that short-term momentum has weakened, with the hourly MACD indicator fluctuating below the zero line, and each moving average showing signs of a pullback. The four-hour chart still maintains an upward trend in MACD, but the RSI indicator has shown a decline. These signals collectively indicate that the market may continue to experience a range-bound pullback in the short term.

If Bitcoin can stop the dip in the morning, there is no need to worry too much, and it is likely to rebound again. Conversely, attention should be paid to the two key support levels of 108000 and 2780. If they are lost, it may further dip to around 107000 and 2730.

In my personal judgment, after this pullback, Bitcoin is still expected to move towards the 109500-109800 range, while Ethereum has the opportunity to rebound to 2840-2860. This short-term adjustment may provide a foundation for a healthier upward movement, and investors should remain calm and pay attention to the performance of key price ranges.