Mainstream cryptocurrencies face technical pressure, and the short-term trend is delicate. BTC, ETH, and SOL have successively broken below their respective important moving averages, which is usually an intuitive reflection of capital flow. According to industry OTC market observers, there are clear signs of short-term capital returning recently, and large investors' withdrawal actions have become a market signal.

From the charts, losing these moving averages often indicates a weakening of upward momentum. SOL's performance is particularly noteworthy—being a representative of high-growth sectors, its pullback reflects a decline in market risk appetite. Although ETH's fundamentals remain unchanged, signs of short-term liquidity exhaustion are evident, which is a dangerous signal for contract traders.

BTC is more influenced by macro sentiment, and its technical weakness may just be superficial. The real issue is that when large funds start to withdraw, retail investors are often the last to know. The current situation is like this—capital is telling a story, while prices are revealing the truth. How will the short-term trend develop? It all depends on whether it can regroup at a certain support level later.