Bitcoin is experiencing a significant decline, falling below critical support levels following a massive sell-off that resulted in over $846 million in liquidated positions. This downturn comes after a brief price surge driven by market optimism from recent Federal Reserve statements about potential rate cuts. Technical indicators now suggest caution among Bitcoin traders, with the Average Directional Index (ADX) reflecting a lack of trend strength and the Relative Strength Index (RSI) showing bearish momentum. Conversely, while Ethereum also faced selling pressure after reaching a new all-time high, technical indicators hint at underlying market optimism with a strong ADX reading. Currently, traders maintain a bullish outlook for Ethereum, expecting it to potentially reach $5,000 by year-end. Key support for Bitcoin is identified at $110,500, while Ethereum's immediate support stands at $4,400, with both assets displaying significant volatility in a choppy market environment.

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