Gu Jingci: Bitcoin broke through strongly on August 25th, will Ethereum see a catch-up rally?

Bitcoin broke through its recent daily high of 79,600 last night and then broke through the 80,000 mark in early trading, reaching a high of around 81,260. Ethereum, however, did not follow suit. Despite our repeated advice last night to short at higher levels and add to short positions, Ethereum retraced several times, testing the 2450 level, while Bitcoin's retracement was relatively smaller, only a little over 1,000 points. If Bitcoin hadn't been closed out in time, it would have faced significant downside risks. In the current market, many people see Bitcoin breaking out and expect Ethereum to catch up, even predicting a rapid bullish reversal. Frankly, if Bitcoin were consolidating while Ethereum kept breaking out, then there would indeed be more to expect. The problem now is that Bitcoin keeps breaking out while Ethereum doesn't follow, which aligns with our previous emphasis that once Bitcoin starts to retrace, Ethereum's downside potential will be relatively larger, meaning it won't catch up and may even fall further. Trading recommendations: Short Bitcoin at 80,800, with a target of around 78,000 to 79,000; Short Ethereum at 2510, with a target of around 2400 to 2450. The analysis and strategies provided are for reference only. Please assume all risks. The review and publication of this article may not be timely; please refer to real-time updates.