TechFlow news, September 23: Adam, macro researcher at Greeks.live, released a bulletin for the Chinese community stating, "The group overall leans toward a cautious bearish outlook, with traders generally believing that bottom-fishing should be avoided currently, as clear reversal signals have not yet emerged. Most members are watching Bitcoin’s support test in the $104,000–$105,000 range and Ethereum’s key technical level at $4,000, while remaining vigilant about pressure from the quarterly expiry on September 26.
• Declining volume has become a market focus: Bitcoin and Ethereum trading volumes in September were significantly lower than in August, despite substantial price volatility, indicating insufficient liquidity and potential weakening demand
• Clear divergence in trading strategies: Some traders suggest gradually building spot positions near $4,000 for Ethereum while adding Put protection, while others argue to wait for a volume-backed retest to confirm a reversal signal
• Decoupling between crypto and U.S. equities sparks discussion: Despite gains in U.S. stocks, Bitcoin failed to follow, with the market widely believing that Asian traders are regaining pricing power and that current markets lack incremental capital"
