$BTC started to decline early in the morning, liquidating over 90% of long users. Even the insider big brother couldn't withstand the liquidation, dropping below 80k and the market directly accelerated to 75.7k, just a little short of the 74k I mentioned.

The drop in the early morning took away over 95% of long liquidity, with $2.24 billion liquidated in 24 hours, of which long liquidations accounted for $2.12 billion. $BTC fell by 10% and $ETH by 17%, not to mention the declines in altcoins, resulting in a chain of liquidations during the drop.

Now $BTC and $ETH have stabilized slightly. I bought some long positions at 2420 around 4 AM but didn't dare to buy much more, as the speed and strength of the rebound are very weak. I plan to take profits today and wait until after 6 PM or tomorrow morning's opening. The current position needs to oscillate in the range of 74k-88k for a long time.

Yesterday, I saw many people starting to buy the dip in spot! If you ask me, it's okay to buy some spot, but you will definitely get trapped in the middle. 71k-68k might be the ultimate target this time. Plan your positions well for buying spot and avoid playing with contracts.