The area above the two pancakes has accumulated about 381 million in liquidation intensity between 2850 and 2940, which is a relatively concentrated liquidity zone in recent times.
Considering the timeline, the Bank of Japan's interest rate hike expectations combined with yesterday's magnesium stock plate have caused a premature weakening of risk sentiment, making the market appear to be digesting uncertainty ahead of time.
In this context, the short term seems more like an emotion-driven phase of reallocation, with the true direction depending on whether the liquidation range is effectively reached and whether the pace is fast enough.$BTC
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