Yesterday, a wave of upward movement cleared all short liquidity at 104k for Bitcoin.

Looking at the current market, we can see that the remaining short liquidity above the current price is only between 105k and 106k, and above this price level, there is a completely empty liquidity gap;

Therefore, at least within this week,

it is impossible for the price to break through 106k, so in my view, the current situation is:

1. Short liquidity (fuel) is almost exhausted!

2. The total amount of unliquidated long liquidity is relatively high, but it is scarce near the current price;

3. The funding rates of the three major exchanges have all returned to normal.

Thus, it can be expected that the range of 100k to 106k will become a new oscillation zone, until the short liquidity above 106k fills this gap, or the long liquidity around 97k completes its accumulation.