The current core status of Bitcoin's market:

1) At $81k, there is a sell wall of -$88.41 million, which is the strongest resistance signal on the order book; the order book only shows large sell orders but no accumulation of substantial sell volume, indicating that the main bearish forces have not entered in large scale;
2) Open interest (OI) has decreased by 5.74%, leverage is being liquidated, and funds chasing the high are retreating; if the price rebounds to around $81k later, many short positions will be liquidated;
3) ETF has had net inflows for 8 consecutive days, institutional buying continues but with weakened strength; yesterday’s net inflow was only $11.84 million, indicating that ETF institutions no longer have a strong demand to buy BTC;
4) The US and Iran are exerting maximum pressure, Trump claims to restart negotiations as early as the 24th, Iran denies, and oil prices remain high; the US-Iran negotiations and standoff are variables that significantly influence Bitcoin’s movement, leaving people confused due to unresolved uncertainty. President Trump, either withdraw troops and admit defeat or escalate the conflict—hesitating serves no purpose;
5) On the four-hour chart, the bullish and bearish volume shows that bearish volume still lacks dominant strength; it feels like the main bearish forces have not yet entered in large pattern, and the bears are waiting; bullish volume is also weak, with bulls waiting for good news from Trump to cheer them on;
6) On the daily chart, the price is still oscillating and rebounding within the Fibonacci ascending channel, directly consolidating around the Fibonacci 0.786-1 axis, seemingly needing to test near $80k before giving up;
Conclusion: $81k is the last line of defense for the bears, and there will be intense battles at this level. In the short term, consider going long at support levels and testing short at resistance levels; in the medium term, wait for confirmation of a top signal in the $80,000-$81,000 zone before deploying positions.
For medium-term BTC short positions, wait and see if there is progress in US-Iran negotiations over the weekend, wait for the price to rebound to $80,000-$82k, and wait for the main bearish forces to enter in large scale.
Let the bullets keep