#数字资产市场动态 Looking at today's market, it’s indeed very weak. I couldn’t help but pull out the $BTC liquidation level data for further analysis.

Interestingly, the high-leverage long liquidation orders below are still quite dense, and that hasn’t changed. But upon closer inspection, the liquidation volume below the 86,000 level has become noticeably sparse—the further down you go, the shorter the corresponding liquidation lines. What does this mean? It’s unlikely to cause a sharp crash directly.

In other words, the most probable scenario is: after the price continues to break below 86,000, it might actually trigger a wave of upward liquidations. Based on the current market performance, although it looks weak, it’s essentially just a retest.

That said, once the decline stops, can it just shoot up in one go? I personally don’t believe so. Even if a rebound begins, it’s highly likely to turn downward again after reaching a certain level. If you ask me, the target zone for this rebound is roughly between 87,900 and 88,400.