Major cryptocurrencies are trading lower in early Thursday hours despite ongoing institutional demand and cooling inflation data.

儘管機構需求和冷卻通貨膨脹數據持續，但主要的加密貨幣在周四初的交易較低。

The Crypto Fear & Greed Index has entered the ‘Greed’ zone, shifting the sentiment sharply and raising questions whether this pullback signals a phase of profit-taking and consolidation following the robust rally over the last few weeks.

加密恐懼和貪婪指數進入了“貪婪”區域，急劇轉移了情感，並提出了疑問，這種回調是否在過去幾週內強大的集會之後表明了盈利和合併的階段。

Bitcoin is finding key support around $101,600, according to crypto chart analyst Ali Martinez. This level is crucial as it coincides with a significant Fibonacci retracement and the lower band of a Bollinger Bands indicator, offering strong technical resistance.

根據加密圖表分析師阿里·馬丁內斯（Ali Martinez）的數據，比特幣正在尋找約101,600美元的主要支持。該水平至關重要，因為它與明顯的斐波那契反回試和布林帶指示器的下部帶相吻合，具有強大的技術耐藥性。

Meanwhile, trader Adam observed that Bitcoin appears exhausted after its attempt to break through $105,000. Open interest has returned to levels seen during the previous all-time highs, indicating a buildup of leveraged positions that typically exert pressure on the price to move lower.

同時，交易員亞當（Adam）觀察到，比特幣試圖突破105,000美元後，比特幣似乎筋疲力盡。開放興趣已恢復到以前的歷史高點期間看到的水平，表明槓杆位置的積累通常會對價格施加壓力，以使下降。

He further noted that spot markets are encountering increased selling pressure, which is evident in the rapid liquidation of large leveraged long positions, especially compared to the buying activity.

他進一步指出，現貨市場正在遇到增加的銷售壓力，這在迅速清算大型槓桿式長位方面很明顯，尤其是與購買活動相比。

While the move from $80,000 suggests a solid base, this may not be an optimal time to open new long positions due to the strong technical resistance at $101,600 and the increasing selling interest.

雖然從80,000美元的轉變表明了一個堅實的基礎，但由於技術抵抗力強勁，售價為101,600美元，而且銷售利息的增加，這可能不是打開新長位的最佳時間。

On the other hand, Ethereum has closed above its 200-period simple moving average on the 3-day chart, currently around $2,700, highlighted Martinez.

另一方面，以太坊在3天圖表上（目前約為2,700美元）的200個週期簡單移動平均線以高於其200週期的簡單移動平均線而關閉。

Historically, such a close has marked the beginning of major bull rallies for ETH, while failure to close above this SMA has usually signaled the continuation of the bear market.

從歷史上看，這樣的近距離標誌著ETH的主要公牛集會的開始，而未能關閉此SMA通常表示熊市的延續。

For Solana, the coin is currently retesting the $180 breakout level, observed analyst Crypto Zeinab. A successful bullish retest could open the path toward $200.

對於Solana而言，該硬幣目前正在重新測試180美元的分析水平，分析師Crypto Zeinab觀察到。成功的看漲重新測試可以打開$ 200的道路。

This analysis is further supported by Glassnode data, which shows positive 30-day capital inflows of around 4–5% for SOL after several months of outflows, indicating renewed interest from investors in the coin, now on par with XRP.

玻璃節數據進一步支持了該分析，該數據顯示了幾個月的流出後SOL的30天資本流入量約為4-5％，這表明投資者在硬幣中的投資者的興趣增加，現在與XRP相當。

Dogecoin is forming a textbook inverse head and shoulders (IHS) pattern, noted Blintz Capital. The breakout occurred on Monday with strong volume, and the current pullback is seen as a healthy consolidation, setting up for another leg up.

Blintz Capital指出，Dogecoin正在形成一本教科書逆向頭和肩膀（IHS）模式。突破發生在周一的大量體積，目前的回調被視為健康的鞏固，為另一個腿部設置。