Is Global Liquidity in Financial Asset Markets, Including the Stock Market, Caught Between Bitcoin's Support and Ethereum's Resistance?

Many argue that regardless of individual positive or negative news, the cryptocurrency market is the most honest reflection of liquidity in the financial asset market.

Bitcoin and Ethereum, the main cryptocurrencies, can be considered key indicators of the market.

Currently, Bitcoin (BTC/USD), in dollar terms, finds significant support in its previous neckline around the $56,500 line and slightly below, where recent low points are acting as a short-term support.

Conversely, Ethereum (ETH/USD) finds resistance around its previous neckline, approximately $2814.

The cryptocurrency market is currently trapped between Bitcoin's support and Ethereum's resistance, exhibiting a range-bound pattern.

This trend in the cryptocurrency market seems closely related to the range-bound movement of the US stock market (including the Nasdaq) since July.

This range-bound pattern will likely resolve itself in one of two ways: either a breakout upwards (short-term market bubble), or a decline leading to a sharp drop.

It's anticipated that the direction of the US stock market will be intertwined with the liquidity and trends in the cryptocurrency market, particularly Bitcoin and Ethereum.