BTC has fallen below two key support levels, combined with the outbreak of war between Israel and Iran, the trigger factors for the market decline are complete. Within the group, short positions were opened almost at the highest point of $109,775, and as of now, the price has dropped by about $6,000, resulting in substantial profits.

From the daily chart, BTC shows a trend of forming an M-top, with $100,800 being the most critical support level below. If this level is broken, the M-top pattern will be confirmed, and panic selling may lead to further price declines to around $94,000. Currently, the price remains high, and this round of decline is mainly driven by risk aversion sentiment triggered by the war. As long as the support level of $100,800 holds, there is hope for capital to flow back after the market stabilizes.

Therefore, this drop provides investors with an opportunity to acquire low-priced chips, and one can patiently wait for the buying or shorting opportunity. I have partially taken profits on my position.