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Data Analysis:
According to the current liquidation map, the market is currently dominated by short positions. Based on the current Bitcoin price of around $105,400, if the market fluctuates by another $2,000 up and rises to around $107,400, it is expected that the total liquidatable short amount will be approximately $673 million. Conversely, if the market drops to around $103,400, it is expected that the total liquidatable long amount will be approximately $1.23 billion.
The Bitcoin ETF had an outflow of $342 million yesterday, while the Ethereum ETF had an outflow of $14.1 million yesterday.
Market Viewpoint:
Market Direction: Short-term continued volatility and decline. From the current market trend, the overall rebound strength is weak, and it hasn't really dropped enough, remaining in a downward volatility. This is mainly due to the fact that the U.S. has failed to include cryptocurrency tax incentives in the "Beautiful Big Law", which leans the entire crypto market towards bearish in the short term. Additionally, Powell's speech last night indicated to the market that there would be no interest rate cuts this month, so there is little chance for the market to rally.
At the same time, Ethereum and most altcoins have also seen some declines. Personally, I believe that in the short term, the market will continue to primarily fluctuate downwards, and contracts should still focus on short-term bearish trends. Also, be aware of the risk of significant fluctuations and corrections in the market.
Subscription Benefits:
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