According to the current liquidation map, the market is still dominated by bears. Based on the current Bitcoin price around $116,800, if the market fluctuates up or down by $2,000 and rises again to around $118,800, the total amount of liquidated shorts is expected to be about $6.9 billion. Conversely, if the market drops to around $114,800, the total amount of liquidated longs is expected to be about $1.6 billion. Yesterday, there was an outflow of $131 million from the Bitcoin spot ETF, while there was an inflow of $195 million into the Ethereum ETF spot yesterday.

In terms of market direction, the daily line is generally in a sideways consolidation, leaning towards a short-term focus on whether the market will break below the consolidation range. Ethereum's one-sided rise during this period has also driven the rebound of altcoins. Of course, the current upward trend of Ethereum is still in place, but it is important to note that there are many shorts accumulated above Ethereum that need to be monitored.

I personally believe that the focus should be on the market trend. Once the market breaks below the consolidation area, Ethereum's one-sided upward trend may also come to an end, so it is essential to closely monitor the upcoming market movements.