Group 1 - The core point of the news is that the unexpected rise in the US PPI data has led to a significant downturn in the cryptocurrency market, causing a massive liquidation of positions and a sharp decline in major cryptocurrencies like Bitcoin and Ethereum [1][3][5] - The US PPI for July increased by 0.9% month-on-month, marking the largest rise since June 2022, which has raised concerns about inflation and its impact on consumer prices [3][4] - The market's expectation for a rate cut by the Federal Reserve in September has drastically decreased to 90%, with a 50 basis point cut now considered unlikely, leading to further declines in the crypto market [5] Group 2 - Bitcoin is currently in a correction phase, with key support levels at $117,500 and $115,988, and a critical resistance level at $122,000 [6][8] - Ethereum has broken below its acceleration channel and 12-day moving average, but there is potential for a short-term rebound, with targets set at $4,666 and above [9][11] - Altcoins are experiencing mixed reactions, with some showing signs of recovery while others remain at low levels; quality altcoins are expected to enter a bullish phase, while most will follow the broader market trends [11][12]