Recently, BTC has been hovering just above 100,000. The K-line isn't particularly remarkable, but the movements of funds are quite interesting. Futures positions are gradually shrinking, leveraged funds are hesitant to take action, and on-chain liquidity in the spot market hasn't decreased, indicating that long-term players are still holding. The market seems quiet, but there is actually a turnover happening. The current situation resembles a tug-of-war: short-term funds are constantly entering and exiting, but the main positions haven't shifted. Most people find it boring, but this kind of market is friendly to those looking to build positions, allowing ample time to enter in batches.