This wave of decline and sharp drop, to put it bluntly, is the market makers manipulating the situation!

On one hand, they are using news to set the pace, while on the other hand, they are frantically collecting contracts from players. Since Bitcoin broke through a key level on June 9, the market makers have been aggressively cutting short leverage, causing a liquidation of $5.9 billion in contract positions in just two days. Now, the price of the coin has been fluctuating between 100,000 and 110,000 for over a month, with several attempts to break through 110,000 but failing to hold, directly triggering a massive short liquidation. The short pressure has actually been released quite a bit in advance.

But strangely, when it recently rebounded near 110,000, the market makers secretly started to unload, even the technical indicators began to draw fake K-lines to trick retail investors into taking over. So we have already reminded: contract long positions should quickly take profits, and spot positions should also be withdrawn to avoid the storm.

Now let's talk about the options market; the options data for the week of June 13 is quite interesting, with the maximum pain point raised to $106,500, indicating a potential short-term rebound. However, the maximum pain point for the monthly options on June 27 is stuck at 100,000, indicating that this mid-term support is quite strong. The market is currently in a phase of risk aversion and capital contention; although the conflict between Israel and Iran has intensified selling pressure, the integer level of 100,000 just can't seem to break. If it really falls to this level, it might actually be a good opportunity to buy the dip.

Finally, keep a close eye on policy: if Japan raises interest rates and the Federal Reserve continues to hold rates, Bitcoin is likely to be pushed down further, but a drop to 100,000 or even lower could be a great buying opportunity.

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To speak candidly, bull markets offer many opportunities, but it's also a knockout stage; staying alive is the most important! It's still a good time to pay attention to Xin Jie and get on board.