Data Analysis:

According to the current liquidation map, based on the current Bitcoin price around $101,200, if the market fluctuates by $2,000 upwards to around $103,200, it is expected that the cumulative liquidatable amount for short positions will be about $440 million. Conversely, if the market drops to around $99,200, the cumulative liquidatable amount for long positions is expected to be about $300 million.
Bitcoin spot ETF institutions had a net outflow of $186 million yesterday.
Market View:
Market Direction: Bearish in the short term. From the current market trend, the market continues to decline. Next, we will pay attention to whether the market can stop falling around $100,000. Meanwhile, Ethereum and most other mainstream currencies are also declining along with the market, and market sentiment is slowly shifting from greed to a neutral wait-and-see stance. I personally believe that if the market breaks below $100,000, there will be a further acceleration in the decline, so we need to be cautious about the risks. As for spot trading, we need to wait for a while to see whether to start positioning in spot. Additionally, pay more attention to news from Musk and Trump, as well as tonight's non-farm payroll data.
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