Recently, the crypto assets market has once again hit the bottom, and mainstream tokens like Bitcoin have started a second bottoming trend. However, this time the market performance seems to be less strong than before. From on-chain data, large investors appear to be relatively calm, but the trading volume data from exchanges shows that the trading volume during this fall is significant, indicating that supply pressure has not weakened, which may limit the height of any rebound.

Based on the current situation, we can consider two possible scenarios:

First of all, if $103,500 is confirmed as a short-term low and starts to rebound, the rebound may be limited and it will be difficult to break through the $116,000 level. After that, it may test the bottom again, forming a breakdown or a triple bottom scenario.

Secondly, if US stocks continue to fall in the near term, or if negative factors such as geopolitical risks, government shutdowns, or banking crises worsen, it may accelerate the downward trend. The price of Bitcoin could even drop below $100,000, searching for new support around $95,000. In this case, the rebound may be larger, but it would still be difficult to break through the high of $116,000.

In any case, the final result may be a fluctuation within a new price range. Considering the strong performance of gold prices recently, along with the ongoing tug-of-war between the Federal Reserve and the Treasury Department, the overall market environment seems difficult to present any real positive factors to ease the current situation.

It is noteworthy that investors' enthusiasm for US stocks has reached levels of historical bubble peaks, which has also brought more uncertainty to the Crypto Assets market. In this complex market environment, investors need to remain vigilant and closely monitor the potential impact of various macro factors on the Crypto Assets market.