The market is currently witnessing an invisible battle without gunpowder, where both bulls and bears appear evenly matched on the surface, but in reality, the big players are smashing the chips against each other.

In the past 12 hours, among the top five large transactions, there were two sell orders of $910,000 that precisely crashed the market, while previously there were two consecutive large buy orders of $2.21 million. This stark contrast reveals the tug-of-war among the main funds—some are eager to offload, while others are frantically accumulating.

This shifting balance of funds is akin to a tug-of-war, where one side is pulling back while the other is increasing their stakes, indicating that the main funds have not yet reached a consensus.

From a technical perspective, the price has repeatedly formed a "double top" pattern at a critical position, a pattern that also appeared before the crash in December 2024.

More troubling is the occurrence of a top divergence in the MACD indicator, akin to the sudden illumination of a car's brake light, suggesting that the upward momentum may be waning.