Data Analysis:

According to the current liquidation map, the market is still dominated by short sellers. Based on the current Bitcoin price of around $116,800, if the market fluctuates by another $2,000 up or down, rising again to around $118,800, the estimated cumulative amount of liquidated short positions could be about $6.9 billion. Conversely, if the market drops to around $114,800, the estimated cumulative amount of liquidated long positions could be about $1.6 billion.
Bitcoin spot ETF saw an outflow of $131 million yesterday, while Ethereum ETF spot experienced an inflow of $195 million yesterday.

Market View:
Market Direction: The daily chart is overall in a sideways consolidation trend. From the current market movement, it is leaning towards a range-bound fluctuation. In the short term, the main focus is whether the market will break down below the range-bound fluctuation. The recent unilateral rise of Ethereum has also driven the rebound of altcoins. Of course, the unilateral upward trend of Ethereum is still ongoing, but it is important to note that there are many short positions accumulating above Ethereum at the moment, which needs to be monitored.

I personally believe that the key focus should be on the market trend. Once the market breaks below the consolidation zone, the one-sided upward trend of Ethereum will also come to an end, so it is necessary to closely monitor the market's upcoming movements.

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