Data Analysis:

According to the current liquidation map, last night the long positions were liquidated in a wave, and the market is overall dominated by shorts. Based on the current Bitcoin price around $114,000, if the market fluctuates up and down by $2,000 and rises again to around $116,000, it is expected that the cumulative amount of liquidated shorts will be approximately $1.6 billion. Conversely, if the market drops to around $112,000, the cumulative amount of liquidated longs is expected to be about $700 million.

According to the current Ethereum liquidation map, the overall short positions dominate the market. Based on the Ethereum price around $3600, if it fluctuates up and down by $100 and rises again to around $3700, it is expected that approximately $1.1 billion of short positions could be liquidated. Conversely, if Ethereum drops to $3500, the cumulative liquidation amount for long positions is estimated to be around $960 million.

The Bitcoin spot ETF saw a net outflow of $19.7 million yesterday, while the Ethereum ETF experienced a net outflow of $15.5 million yesterday.

Market View:
Market Direction: Mainly oscillating. Last night, influenced by Trump's speech, U.S. stocks and the market fell sharply. However, from the daily chart perspective, the market has rebounded, but overall it is still in a range-bound oscillation. On the other hand, altcoins have not rebounded much, indicating that the altcoin market is still quite weak. Any minor movement in the market can lead to significant fluctuations. Additionally, during this period, it is important to pay attention to Trump's tariff-related news, as well as the U.S. CPI data release tonight at 8:30.

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