【4000U→10万U挑战】Day X | Current Holdings: 4880U Short Position Wait and See

Today's market really made me witness what is called "bloodbath".

Last night before 10 PM, the entire market suddenly crashed. BTC dropped directly from a high of 110,000 to below 105,000, losing more than 4 points in a single day. ETH fared worse, plummeting by 9%, completely failing to hold the critical level of 3600, hitting a low of around 3500. As of the time of this report, BTC is hovering around 103,800, while ETH is barely above 3500, gasping for breath.

**What's really going on in the market?**
Funds are fleeing. Last week, the net outflow of Bitcoin ETFs in the U.S. approached $950 million, with even BlackRock's whale-like increase in holdings hitting a seven-month low. Institutional funds are clearly withdrawing, and retail investor confidence? Basically on the brink of collapse.

**What to look for in the technical aspect?**
Bitcoin is currently trapped in a triangular convergence structure, with price fluctuations becoming narrower. This often indicates that a significant change is imminent. On the four-hour chart, it has dropped below the previous isolated low, but the short position volume is actually not strong, while the long position still has some resistance.

Looking at the second contract again, the trading volume on the 30-minute level suddenly doubled, but the price didn't break through at all. What does this mean? It's a typical case of bilateral selling—both spot and contracts are being dumped at the same time, and the main force is actively clearing the market.

**My operation?**
Continue to hold a Short Position. If you still have short positions, it is advisable to reduce some of them to lock in profits. If the price rebounds to the key resistance level, you can try a small position to short, but do not go heavy. In this market, no one can predict where it will go next second.

Surviving is more important than anything.