When Bitcoin fell below $112,000, the cumulative liquidation scale of long positions on CEX reached $1.09 billion; it then rebounded to $116,000, corresponding to a short position liquidation intensity that climbed to $2.504 billion. Currently, the bearish forces in the market are clearly stronger than the bullish ones.

Yesterday's sharp decline was significantly influenced by the weakness in the U.S. stock market, which led Bitcoin and other risk assets to decline simultaneously. However, if there are no major news disruptions tonight, there is a possibility of a market rebound—after all, following short-term sharp fluctuations, the demand for recovery from overselling may drive some capital to enter the market to buy the dip, thereby boosting prices.