The recent trend of $BTC makes me vaguely feel that the market might experience a significant downward liquidation.
In the last 7 days, $1.01 billion has flowed out of the spot market, and the market share is gradually declining.
A crucial support level for $BTC is around 109,500, and the on-chain short-term holders' cost basis is at 108,900. This means that if it falls below 109,500, these short-term holders are likely to panic sell, leading the market to drop directly.
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