Only from the liquidation perspective, Bitcoin pulled back to 119,000, and Ethereum pulled back to 3,900, the cost-effectiveness is much higher than continuing to go down. In the short term, if Bitcoin drops to 102,000, it can only liquidate more than 2.3 billion shorts; but if it rises to 125,000, it could liquidate 4 billion shorts. Currently, the pullback depth of Bitcoin around 113,000 and Ethereum around 3,500 is considered acceptable. To continue to achieve the strength needed to liquidate shorts, BTC must drop below 110,000, and ETH must drop below 3,200, which currently seems unlikely.