The recent rebound in the Crypto Assets market seems to lack substantial support. Analysts point out that institutional investors have quietly withdrawn about $320 million, indicating that market participants are becoming more cautious in the short term.

From on-chain data, it can be seen that large holders have set significant sell order pressure in the price range of $119,000 to $120,000. Meanwhile, the expectation that the Federal Reserve may keep current interest rates unchanged in September continues to put macro-level pressure on the market.

Technical analysis shows that market trading volume has significantly shrunk to 356.15, far below the levels of MA9 and MA10 moving averages, reflecting a strong wait-and-see sentiment in the market. Although prices have rebounded somewhat, the divergence between volume and price raises doubts about the reliability of this rebound.

In addition, the MA9 and MA10 moving averages are still above the current price, indicating that the medium-term trend has not yet turned bullish. The moving averages have not yet formed a golden cross or displayed a bullish arrangement, and the current rebound may only be of a short-term corrective nature.

The MACD indicator is expected to oscillate around the zero axis. Although there are no specific values, it can be inferred from the narrow fluctuations and shrinking trading volume that the MACD may be entangled around the zero axis, temporarily lacking clear directional signals.

It is worth noting that the trends of mainstream Crypto Assets such as Bitcoin, Ethereum, and Solana still affect the market's nerves. Investors should be cautious, as blindly chasing highs in the absence of sufficient trading volume support may face risks.

In the current market situation, investors need to stay alert, closely monitor the flow of institutional funds, changes in on-chain data, and trends in macroeconomic policies, operate cautiously, and avoid taking risks in a highly uncertain environment.