- Technical indicators show callback risks: On February 9, 2025, the Bitcoin price remains above $96,000, but the technical aspects have shown signs of fatigue. If it falls below $96,000, it may trigger a new round of decline. Historical patterns show that the second year after halving often accompanies deep corrections. Currently, the open interest is close to historical highs, and a 10% drop could trigger over $1.6 billion in liquidations, exacerbating panic selling.