The total futures positions of BTC have begun to decline mysteriously, with prices still oscillating within the original range, but futures positions have decreased by $6 billion from the peak of $64 billion, currently reaching $58 billion;

This indicates that long positions in futures have started to take profits in bulk, and these profits belong to the on-chain funds in the crypto space, which can become liquidity for altcoins to rise;

This is a specific manifestation of BTC's liquidity overflow, meaning that after external funds enter, they won't necessarily purchase altcoins, but rather that USD funds buying large amounts of BTC have driven up the price, and the on-chain funds that have profited from BTC are starting to flow into other cryptocurrency markets.

This has driven up the prices of altcoins.

I feel that there seems to be a sense of drawing the tiger away from the mountain in this situation; BTC cannot break through $100,000 mainly for two reasons: the vehicle is too heavy, and there is insufficient short fuel;

Currently, the accumulated short liquidity at $100,000 is already sufficient, and the next step is to lighten the vehicle, so a general rise in altcoins can achieve this effect;

From the declining position volume, it is indeed evident that a considerable amount of on-chain funds has withdrawn from BTC and entered altcoins!