Data Analysis:

According to the current liquidation map, the current market bears are dominant, based on the current Bitcoin price near $108,900, if the market rises again to around $110,900, the cumulative liquidable short amount is expected to be about $1.33 billion, on the contrary, the market falls to around $106,900, and the cumulative liquidable long amount is expected to be about $2 billion
Additionally, from the Bitcoin ETF institutions, it can be seen that BlackRock and other institutions have been experiencing an inflow of funds, with a net inflow of $385 million yesterday.
Market Viewpoint:
Market Direction: The short-term trend is mainly sideways fluctuations. From the overall market performance, it is still in a high-level range of fluctuations, and we can only patiently wait for a shift. Secondly, for Ethereum, yesterday's performance was relatively good, and some altcoins rose along with Ethereum's increase.
I personally believe that the main reason for the high-level fluctuations during this period is BlackRock, as BlackRock has been experiencing inflows of capital during this time. Therefore, we need to pay more attention to the direction of BlackRock's funds.
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