Data Analysis:

According to the current settlement map, the market is relatively balanced between long and short positions. Based on the current Bitcoin price around $118,800, if the market fluctuates up or down by $2,000 and rises again to around $120,800, it is expected that the cumulative amount of short positions that could be liquidated will be about $2 billion. Conversely, if the market drops to around $116,800, the cumulative amount of long positions that could be liquidated is expected to be about $988 million.
Bitcoin spot ETF saw an outflow of $228 million yesterday, while Ethereum spot ETF had an inflow of $7.6 million yesterday.

Market View:
Market Direction: The daily chart continues to oscillate sideways. Currently, the overall 4H and daily levels of the market are still in an oscillation zone, while the daily level of Ethereum has entered a downward oscillation. Attention should be paid to whether Ethereum will break down; once it breaks down, Ethereum will likely need to continue adjusting, and this round of increase will be pretty much over. At the same time, it's not hard to notice that as Ethereum has come down, many altcoins have started to adjust as well. Therefore, those who bought spot at relatively high positions should pay more attention.

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