The market is still experiencing poor liquidity and a relatively sluggish state due to the holiday. Everyone needs a violent surge to boost enthusiasm; even if it leads to liquidation, it is better than this half-dead fluctuation. 😌

Additionally, many people say that Bitcoin won't hold at 90,000. Let's take a look at the Bitcoin liquidation chart on the 30th. A surge to 106,300 would liquidate 3.7 billion in short positions, while dropping below 83,000 would liquidate over 1.5 billion in long positions. Although the current prices of both are relatively close to 83,000, I personally believe that it is unlikely to drop below the 90,000 level.

Why? It's simple. Currently, the holders of Bitcoin are mostly institutions and large players, and we retail investors have very little. If it drops below 90,000, it would cause panic selling, which would be detrimental for them. Right now, they can only wash out through long-term fluctuations. When they can no longer wash it out, it will mark the beginning of Bitcoin breaking 10 or even 15 again.

Why? It's simple. Currently, the holders of Bitcoin are mostly institutions and large players, and we retail investors have very little. If it drops below 90,000, it would cause panic selling, which would be detrimental for them. Right now, they can only wash out through long-term fluctuations. When they can no longer wash it out, it will mark the beginning of Bitcoin breaking 10 or even 15 again.