$BTC ### BTC/USDT Market Analysis

The current BTC/USDT price is 104,739.73 USDT, with a 24-hour decline of 2.75% and a trading volume of 2.775 billion USDT, indicating an active market but under short-term pressure. The price range fluctuates between 102,664.31 and 108,450.16 USDT, with the SAR indicator showing a support level at 74,508.00 USDT. Meanwhile, in the MACD indicator, the DIF (16,475.91) is above the DEA (14,094.86), suggesting that there is still short-term rebound momentum, but caution is warranted regarding the risk of a high-level pullback.

The fund flow indicates that the highest inflow percentages are in the 15-minute and 30-minute cycles (37.89% and 31.97%), but large orders show a net outflow of -3,116.42 BTC. Medium and small orders are also in a net outflow state, indicating that the main funds are withdrawing in the short term. The 5-day main net inflow is -4,847.59 BTC, further confirming the selling pressure.

In summary, BTC is likely to continue a short-term downward trend, and attention should be paid to whether the support level at 102,664 USDT is effective. If it breaks below, it may test 95,574 USDT; if it holds at the current price level, it may rebound and test the resistance at 108,450 USDT. Investors may cautiously observe and wait for clearer trend signals.