The recent bloody crime scene of $BTC is very interesting from the market perspective. Here's a recap of the market activity shared for everyone:

1. The price continues to decline, positions increase, and remain at a high level, while CVD continues to drop, accumulating a significant amount of shorts.

2. Another decline occurs, CVD drops sharply, positions surge, and short selling reaches a climax.

3. Suddenly, there is a surge, positions drop rapidly, a large number of shorts are liquidated, and the position volume is already below the first stage, but there are buyers entering the market; at this point, positions are still at a high level.

4. After maintaining the price for 3 hours, it drops again, positions decrease, and those who bought in the third stage also get liquidated, CVD decreases, and retail investors still refuse to give up; there are shorts entering the market during this phase.

5. The price rises again, positions rapidly decrease to recent lows; at this point, retail investors are repeatedly getting liquidated and have begun to panic, and during the rise, there are very few new buyers.

6. The price drops again, positions decline once more, but the effect is no longer significant, indicating that retail investors are too scared to enter the market again for long/short positions.

7. The price starts to slowly rise, but retail investors, seeing the price increase, do not dare to enter the market anymore...