According to online reports, Matrixport released a daily icon analysis saying that although Bitcoin has tried to rebound, seasonal patterns (refer to our daily chart on June 2) indicate that a sustained breakthrough is unlikely. For this rally to remain technically effective, Bitcoin needs to remain above $105,000. However, the bigger concern lies with Ethereum, where, as we noted in our June 11 report, leveraged traders have pushed prices higher without fundamental support. We continue to believe that Ethereum's current price is mainly driven by futures positions, which makes it susceptible to further declines. This position risk helps explain Ethereum's extraordinary decline in the past few days. Given that leverage ratios remain high, further downward pressure on prices remains huge.