At the beginning of August, the cryptocurrency market experienced a noticeable adjustment. Mainstream digital assets such as Bitcoin and Ethereum saw significant falls, and market sentiment became cautious. Bitcoin's price once dipped below 114,000 yuan, while Ethereum also dipped to around 3,600 yuan.

At this time of uncertainty, investors are closely watching the Federal Reserve's upcoming interest rate decision, which could have a significant impact on the cryptocurrency market. In early trading, selling pressure has noticeably increased, and multiple fluctuations are expected throughout the day.

Market participants are currently focusing on the performance of key support levels, with important support for Bitcoin and Ethereum located around 115,000 and 3,650, respectively. If prices can stabilize at these levels, it may stimulate some buying interest. Correspondingly, the upper resistance levels are roughly in the range of 116,500 to 117,000, while Ethereum is around 3,700.

However, if the intraday price cannot stabilize, the evening market may face further downside risks. Investors should closely monitor whether the price can recover the previous losses, as this will be an important indicator for assessing the short-term trend.

Overall, the current market is in a sensitive period, with factors such as macroeconomic policies and regulatory attitudes potentially causing fluctuations in the market. Investors need to remain calm when making decisions, considering various factors comprehensively and managing risks appropriately.