Futures Market Analysis The current futures market is in a liquidation phase, and Friday's surge has cleared the short liquidity above 95000, leaving only the dense long liquidation zone around 91500.

It is worth noting that the previously existing liquidity vacuum above the price has started to show sparse short positions, which poses a potential threat to long-term shorts.

If short liquidity continues to accumulate over the weekend, it may break through 96500 next week;

Conversely, if no new short positions are opened, the price may briefly reach a new high testing the key level of 96500, and then possibly pull back.

Currently, the battle between long and short positions is intense; the shorts have not completely collapsed, but the long sentiment is strong.

Price increases depend on the continuous opening of short positions to provide liquidity, while excessive leverage by longs weakens upward momentum.

Fortunately, the current distribution of long and short liquidation zones is reasonable, with average leverage rates being similar.