$BTC

The current market situation for Bitcoin is still in a critical phase of support contention. Market sentiment is dominated by bears, but short positions have significantly increased. Both borrowing rates and short positions have dropped to relatively low levels, indicating that there is support below. However, if there is a continued sharp decline, bears will find it difficult to gain more profits. From a weekly perspective, Bitcoin has retreated for three consecutive weeks, and the market sentiment has once again been taken over by bears.

Although there has been some recovery, it still faces repeated tests of support. #BTC