$BTC Things may not go well next! Be cautious!
The tremors caused by the entry of giant whales have created a complex situation. When reviewing BTC trends over the weekend, several key signals resemble fireflies in the dark, outlining the trajectory of capital games in the chaotic market. This pullback from $97,500 to $95,000 is starkly different from the traditional perception of a futures short attack; the market shows that the continuous selling pressure in the spot market is the main cause, and the previously strong spot premium rate has shown significant loosening.
The capital game played out particularly vividly at the critical price level of $95,500. When the price broke through this level last week, an enormous long position emerged, with its liquidation price pointing ominously to the deep water zone of $76,000. The entry of this mysterious capital can be described as unusual; it did not choose to add positions to push prices higher but instead caused BTC to halt abruptly after reaching $98,000.
What is even more intriguing is that its average leverage ratio is only 5 times, keeping the market firmly pinned in a narrow range. This scene is reminiscent of encountering a giant creature on a bus; the driver is reluctant to accelerate recklessly yet finds it difficult to get it off the bus, maintaining a delicate balance amidst the bumps.
The longs chasing the price in the $94,500-$95,000 range have all perished, leaving a shocking liquidity gap on the board. If the bulls choose to replenish their positions here, a price drop to $93,000 will be as easy as walking on flat ground. The current peculiarity of the market is that traditional short forces have long since shed their shells, while these low-leverage longs have become the biggest variable, obstructing price movements like hidden reefs.
Contract market position data shows that bullish funds are increasingly gathering, with the $100,000 round number becoming a psychological curse that is difficult to overcome, while any slight movement from the bearish forces keeps the liquidation price of $76k hanging high. This delicate balance is akin to the calm before a storm; any slight disturbance may trigger a chain reaction.
The market changes every day; don’t let your mindset become too tense. If you always feel like you’re half a beat behind or are disturbed by market noise, feel free to come and chat.