A tug-of-war at the edge of 105330 is not a showdown between bulls and bears but a grinding knife on a whetstone - every decimal point is licking the blood of leveraged players.

Cracking the triple password of the market:

1. Technical suffocation suppression

Moving average strangulation formation: BTC current price 105,330.01 USDT, the 4-hour chart is precisely strangled by the yellow and purple moving averages. This morning's volume-carrying bearish bar broke through the 105,500 neckline, like a scalpel slicing the throats of the bulls.

Volume informer: Current order ratio -0.86%, sell order at 107,000 USDT pressing down, buy order only at 104,000 USDT supporting, bear firepower is 18% stronger.

2. On-chain anomaly solid evidence

Miner revolt: F2Pool monitoring shows over 3000 BTC transferred to Binance this morning, coinciding with an 8% difficulty adjustment. Old miners are dumping before the shutdown price, which is a textbook-level death signal.

Giant whale turns against: On-chain capture of a certain ancient address from 2018 transferring 517 BTC to Coinbase (worth 540 million), the last time this type of account moved, BTC plummeted by 37%.

3. Macroeconomic fatal combo

The Federal Reserve changes its stance: overnight meeting minutes removed the 'interest rate cut within the year' statement, the 2-year U.S. Treasury yield surged to 4.95%, hitting a six-month high, risk assets faced a bloodbath.

ETF flow disruption: Grayscale GBTC single-day net outflow of 380 million, BlackRock IBIT first shows fund stagnation, buying engine stalls.

Tycoon liquidation case review

▶️ Yesterday saw a heavy bottom-fishing at '105500 support', but was pierced by the volume-carrying bearish bar in the chart. Fatal misjudgment in a three-part series:

Ignoring the implied selling pressure of order ratio -0.86%

Misreading the main force's hanging orders (Sell 107000 > Buy 104000)

Deceived by a false rebound - Bitfinex's long rate suddenly surged to 0.12% (annualized 62%), please enter the trap.

Life and death defense line monitoring

Bullish coffin board: 105,500 (current breaking point/support turning into pressure)
Meat grinder switch: 105,330 (current price, losing it triggers programmed sell orders)
Bear slaughterhouse: 104,800 (Fibonacci 78.6% + the 102000 buying area in the chart)

To break through 106,000 with volume and stabilize, need to coordinate: ① GBTC single-day net inflow turns positive ② Order ratio turns red (current -0.86% needs to reverse)

When the BTC spot price is inverted by 0.8% against the CME futures, and when the USDT premium rate falls below -1.2% - remember: every rebound in a bear market is a redemption voucher given to the deserters by God. Keep an eye on the moment when the order ratio in the chart turns positive tonight, that will be the real charge of the bulls! Eat meat with the tycoon, not broth! Follow 'Tycoon Trends', the bull market does not wait for anyone, sudden wealth relies on action, not fantasy! Get moving now!