In the past 24 hours, the entire network has experienced liquidations of $360 million, with long positions liquidating $279 million and short positions only $80.66 million.

This wave of liquidations reminds me of last month's leverage frenzy, and now the bulls are crying in the bathroom, especially those chasing BTC highs.

Combining analysts' viewpoints, Bitcoin has retreated to the 112k support, and institutions are still buying. There is short-term volatility, but the structural bullish logic remains unchanged.

If it holds above 110k, the market may retest 119k; otherwise, if it breaks, it could go down to 105k. Everyone, don’t rush to all in; watch the funding rates turning bearish.