Just when everyone thought Bitcoin would break through $110,000 and start a new round of increase, the market quietly underwent significant changes.
In the past 24 hours, Bitcoin's price has slightly retreated from a high of $109,162. On the surface, it seems stable, but underneath it all, significant undercurrents are at play - the biggest signal is the large-scale withdrawal of leveraged funds from the futures market. Open interest (OI) has dropped by $1 billion; what emotional signals does this release? Are we approaching a critical point of structural adjustment?
Futures leverage plummets: a signal of liquidity retreat
According to data analyst Axel Adler, this round of decline is not accidental, but a result of highly consistent market behavior:
Bitcoin OI decreases by $1 billion in a single day
The number of buyers and sellers has dropped below 0 for the first time; sellers dominate the market
Net inflow of BTC to exchanges reaches 12,000 coins
Spot CVD remains positive, indicating an increase in spot profit settlements
What do these phenomena signify? Simply put: Investors are 'collectively reducing leverage' + 'locking in profits'. In other words, large players and high-frequency strategy funds are beginning to actively exit risk exposure, the leverage ratio in the futures market is rapidly cooling, and the spot market is also realizing phased profits.
This phenomenon is not without reason. Once Bitcoin touches a key psychological level (like $110,000), it triggers technical arbitrage. When this arbitrage behavior is too concentrated, it will exert reverse pressure on the market, triggering a new round of downward cycles.
Key support level: Can $107,000 hold?
What we see is that the number of BTC flowing into exchanges in the spot market is continuously rising, reaching as high as 12,000 coins within the past 24 hours. This behavior of 'flowing into exchanges' usually indicates that selling pressure is about to be released, and prices may face short-term shocks.
Current market signals are already very clear:
The main bulls choose to 'take a phased exit' above $110K
Bearish forces are strengthening in the short term, suppressing the upward momentum
If the support level is lost, the next key point is at $106,000
This is precisely the situation Axel Adler warned about: If Bitcoin cannot hold $107,000, there is a high probability of testing the $106K area, which is the region where bulls and bears previously fought fiercely, and the structural support is quite strong.
FOMO has not fully exploded yet; is a real breakthrough still to come?
From another perspective, this slight pullback may also be a 'technical digestion' in the process of structural rise. It is worth noting that:
RSI has not entered the overbought zone, reflecting that momentum has not yet gone out of control
Leverage cleaning makes the market healthier, avoiding violent liquidations
Before every significant market move, there will always be similar fluctuations
Therefore, we cannot ignore another possibility: bullish funds are using this round of cleaning to release chip pressure, preparing for a continued push towards $112,000 or even higher. The real key is - after the market completes this round of 'emotional clearing', will there still be incremental funds willing to enter?
Use AI to gain insights into structural signals and grasp directions in advance
Facing the complex situation of simultaneous macro pullbacks and technical adjustments, it is not easy for ordinary investors to quickly identify market rhythms. At this time, Mlion.ai's AI data dashboard and on-chain trend module become particularly crucial:
Real-time monitoring of futures OI, funding rates, and changes in spot inflow and outflow
AI analyzes trading density and liquidation heatmaps to quickly identify risk areas
The sentiment radar system evaluates market FOMO and panic index, assisting in judging trend critical points
If you are trying to decide whether to continue holding or increase your position in Bitcoin, you might want to use Mlion.ai's cryptocurrency forecasting and news interpretation tools, combining on-chain data and technical signals to build a more forward-looking decision-making logic.
Conclusion: The market is a game of constant choices, but choices must be based on insights.
The current trend of Bitcoin reflects the real adjustments of strategies from both bulls and bears. The funds that have left the market may just be temporarily observing rather than fully exiting; meanwhile, the buying pressure entering the market needs a thorough understanding of market structure.
Whether preparing for the next buy or setting profit-taking strategies, one should not be driven solely by emotions. The key is whether one can understand changes and identify signals at the first moment, which is the greatest advantage of AI investment research.
Disclaimer: This article is for information sharing only and does not constitute any investment advice. Cryptocurrency assets are highly volatile; invest with caution.
