Yesterday morning, BTC directly broke below 90,000, and then in the evening, due to Trump’s speech at the World Economic Forum in Davos, Switzerland, the market remained tense. Finally, the European Parliament froze the approval process for the US-Europe trade agreement, causing the market to plunge again. BTC dropped below 88,000, and ETH also fell below $2,900. The daily chart for BTC has fully closed the decline, and it is expected to oscillate below the downward trend line again. It is not ruled out that before or after the Bank of Japan announces interest rates on Friday, or during the World Economic Forum, negative news may cause BTC to experience a significant drop.
Additionally, looking at the Bitcoin futures long and short liquidation ratio chart, the leverage positions have undergone a clear shift in the past few weeks. The period dominated by short liquidations (green) usually coincides with upward price movements, indicating that recent rallies are not primarily driven by genuine spot demand, but more by forced short squeezes. This type of market often results in momentum-driven sharp moves. Once liquidation pressure eases, the momentum typically quickly exhausts.
Conversely, the frequent appearance of long liquidations (red) usually corresponds to partial pullbacks or consolidation phases, indicating that the market is clearing overly optimistic leverage. Although these events are often accompanied by short-term price weakness, they serve to reduce excess leverage and reset funding rates structurally, helping to stabilize the market afterward.
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