Data Analysis:

According to the current liquidation map, the market is currently dominated by bulls. Based on the current Bitcoin price of around $109,600, if the market rises again to around $111,600, it is expected that the total liquidated short amount could be approximately $1.06 billion. Conversely, if the market drops to around $107,600, it is expected that the total liquidated long amount could be around $870 million.

Market Outlook:
Market Direction: Short-term fluctuations upward. From the overall trend of the market, the general direction still shows an upward trend structure, while the market is currently in a state of fluctuation, waiting for a change. Personally, I believe that as we approach the end of the month, this week needs to focus on whether the support level of 105000 can stop the decline. If it breaks below the 105000 level, there is a possibility of a wave of accelerated decline.

Secondly, the current market sentiment and the inflow and outflow of major institutional funds in the Bitcoin ETF spot are overall healthy, positive, and active, while Ethereum and most altcoins are more following the trend of the market. As for news, there are no particularly important updates at the moment; attention should be on this week's Bitcoin conference and FTX compensation situation.

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