Currently, a bearish trend is gradually forming in the market. Be cautious as BTC tests the key psychological level of $85,000; if it falls below this, it may trigger a new round of sell-offs.

Bulls can pay attention to the reversal of ETF capital flows and the bottoming signals from the panic index rebound.

Risk Warning: Recent focus is on risk aversion, with the risks of leveraged contracts increasing; it is recommended to reduce positions to avoid extreme fluctuations.

Macro Aspect: Pay attention to the impact of Friday's US PCE data on market sentiment.