From a technical analysis perspective, although Bitcoin currently appears to be at the bottom of a range around 92,000, this is not sufficient to serve as a reliable buying basis. Market sentiment and the macroeconomic environment have a significant impact on its price; for example, tightening global regulatory policies could lead to a substantial drop in Bitcoin's price. Even with so-called long liquidations and range support, it is difficult to withstand the impact of policy changes.

Analyzing from the perspective of capital flow, although there are $1.8 billion in long positions liquidating around 87,000 and an equal amount of short positions liquidating around 98,000, this only represents potential pressure and support levels and does not accurately reflect the actual market direction. Large capital institutions may use this data for counter-trading, attracting retail investors to follow suit before changing strategies, which could lead to market trends contradicting expectations.

From the perspective of market trends, Bitcoin's previous downtrend may not have completely ended. It is unwise to change the shorting strategy simply because the short-term drop has reached $10,000. The overall bear market atmosphere may still be strong, and hastily joining the long side could pose significant risks.