Let's talk about my thoughts on the recent market trends of Bitcoin ( BTC ). I usually don't overly focus on the so-called technical support levels or resistance levels, as the market is fundamentally still controlled by large funds.

I believe Bitcoin is actually trying to pull back to the range below $100,000, but interestingly, many large short positions were established around $110,000. This has led to the current frequent fluctuations, as the market leaders are trying to force investors who built positions at high levels to liquidate their positions through this volatility.

If Bitcoin can stabilize below $100,000, it will have clear advantages for market operators: on one hand, they can more flexibly control price fluctuations, and on the other hand, it can also suppress excessive leverage; at the same time, this pullback can allow other cryptocurrencies to gain more attention, rather than just Bitcoin standing out.

Currently, the market is in an awkward situation – unable to effectively lower prices to force high-position short positions to close, while also lacking enough strength to completely break through the upper resistance level. This explains why we are seeing such drastic price fluctuations. The above is purely a personal analysis viewpoint.