Recent information has been too chaotic. The total contract volume soared from around 98 billion after the last crash to 119.4 billion now. From the market sentiment, most people still hold a bearish view, but there is a contradiction: in the liquidation chart and heat map, long positions are significantly more than short positions. At the same price level, the liquidation of long positions is two to three times that of short positions.

The market may be waiting for a major negative event, as $BTC could drop by twenty thousand points in one go.