Today is August 25th, let's talk about the key points of Bitcoin's market this morning.

In the past 24 hours, Bitcoin's trading volume was approximately 54 billion USD, which is slightly higher than the previous days, indicating that panic selling occurred during the decline. Many people may have seen the situation turning unfavorable and hurriedly sold off their holdings.

Looking at the derivatives market, the funding rate has changed from positive to negative. This is not a small signal, as it indicates that short-term long leverage has been rapidly cleared. Those who previously leveraged to go long are likely under significant pressure now. This also shows that everyone is currently cautious and not willing to be too aggressive.

From the price trend perspective, if Bitcoin can hold in the range of 110,000 - 111,000, there is still hope for another upward move to test above 115,000. If it can successfully break through, it may initiate a new round of increases. However, if it breaks down below 109,000 with substantial volume, the situation will not be very good, and it is likely to retrace to the 106,000 - 107,000 range.

The strategy proposed by Mu Xin is to consider going long around 112,700 - 113,000, with a target looking towards the 114,000 - 114,800 range.

If it breaks below 112,400, the strategy needs to be adjusted.

However, investing carries considerable risk, and everyone should carefully make decisions based on their risk tolerance and investment plans! #BTC☀