This week, the cryptocurrency market has shown some signs of stabilization, with Bitcoin and Ethereum both experiencing a rebound from their declines. Bitcoin is expected to fluctuate between $113,500 and $116,300, while Ethereum may oscillate within the range of $3,450 to $3,630. This rebound trend is largely the result of the combined effect of multiple factors.

Recently, the global financial markets have been influenced by various events. The rise in inflation data, the cautious statements from Federal Reserve Chairman Powell, fluctuations in specific commodity markets, and the tense geopolitical situation have all significantly impacted market sentiment. In particular, the downward revision of U.S. employment data has raised concerns about the prospects for economic growth.

However, these seemingly negative factors paradoxically also provide some support for the cryptocurrency market. In particular, the weakness in employment data has increased market expectations that the Federal Reserve may cut interest rates in September. This expectation has, to some extent, limited the downward space for cryptocurrency prices and provided momentum for a rebound in the short term.

This week, the financial markets will witness the release of several important economic data, including the U.S. trade balance, services PMI, and weekly unemployment claims. This data will provide investors with more clues about the economic situation and policy direction, which may further impact the cryptocurrency market.

Overall, despite a certain degree of correction in the market recently, the current price level seems to have found short-term support. Investors should closely monitor the upcoming economic data and policy signals to better grasp market trends. At the same time, considering the high volatility of the encryption currency market, maintaining caution and moderate risk management remains crucial.