Today's market seems to be fluctuating again under the tug-of-war between two forces. Let's first take a look at the 24-hour liquidation structure.

BTC is currently trading around 89.4k. On the upside, the biggest pain point for bears is at 90.9k, only 1.6% away. On the downside, the biggest pain point for bulls is at 88.3k, -1.2% away. What does this mean? Simply put, BTC is caught in the middle — resistance above to short-sellers isn't strong, but the downside space is limited. According to market logic, it's more likely to push upward first to clear out the shorts.

ETH's situation is a bit interesting. The current price is 2948, with the bear pain point at 2975 (+0.9%), and the bull pain point at 2884 (-2.1%). Notice this difference: the liquidation point above is very close, while below it’s relatively farther. This kind of structure often leads to a quick "short squeeze" rally, rapidly clearing out the shorts.

What about altcoins like SOL, DOGE, and BNB? The bear pain points are generally between +2% and +2.5%, while the bull pain points are between -1.5% and -2%. The overall characteristic is that the upper side is prone to break, while the lower side is quite solid — the market tends to push up first and then shake out.

From the overall structure, this isn't a one-sided trend. More precisely, the price is like being attracted by a "liquidation magnet," oscillating within a range. The most likely market movement is to first test the upper bear pain point, observe the reaction, and then decide whether to revisit the dense bullish areas.

The short-term trading strategy is to closely monitor the reactions near liquidation points, enter and exit quickly, and avoid being caught in a back-and-forth trap.