📊 $BTC Although it dropped to ~$114,800 this week, it quickly rebounded to $119,580, with short-term support holding steady.

The structure hasn't deteriorated, but leverage is quietly expanding.

On July 23–24, the entire network saw over $1.1 billion in long positions liquidated.

It seems like a slight correction, but under high leverage, a chain reaction can happen in an instant.

Funds are rapidly shifting from $BTC to altcoins:

1️⃣ $ETH's dominance in holdings rose from 17% to 26%

2️⃣ $BTC's share dropped from 51% to 41%

3️⃣ Total holdings of $ETH, $SOL, $XRP, $DOGE increased from $26 billion to $44 billion (in 4 weeks)

Hot money is back, but leverage on altcoins has also piled up.

Once prices slow down or face macroeconomic headwinds, the risks will amplify.

U.S. macro data also reveals unease:

1️⃣ Durable goods orders fell by 9.3%

2️⃣ Business investment in equipment has slowed

3️⃣ New home sales only increased by 0.6%

4️⃣ The number of people continuing to file for unemployment benefits rose to 1.955 million

On the other hand, institutions are accelerating their allocation of crypto assets, especially $ETH:

✅ BitMine holds 566,000 ETH

✅ Ether Machine is preparing to go public with 400,000 ETH

✅ Trump Media has heavily invested in $BTC, amounting to $2 billion

💬 My view:

The current market is very similar to early 2021—

Prices are stable, narratives are hot, funds are restless, and leverage is high.

It is both an opportunity and a trap.

Are you chasing the hype, or are you preparing to hold for the long term?

Now is a watershed moment.