Recent market trends

1. Super options expiration pressure: Today the market faces over $20 billion in options expiration, with Bitcoin options reaching a scale of $17 billion. With such massive selling pressure, the market makers will directly crash the price to harvest profits, and the price will definitely not hold up.

2. Macroeconomic challenges worsen: The U.S. second quarter GDP data was significantly revised up to 3.8%. With the economy being so hot, the market fears that the Federal Reserve may not dare to boldly cut interest rates. Additionally, Trump's sudden announcement to impose tariffs on imported goods such as pharmaceuticals and furniture has raised inflation expectations again, leading funds to prefer holding onto the U.S. dollar and gold, naturally sidelining cryptocurrencies.

3. Technical breakdown triggers a chain reaction: Bitcoin accelerated its slide below $110,000 after breaching the support level of $112,500. According to technical analysis, the next key support is around $108,500, and if it cannot hold, it may further decline to $107,500 or even $105,500.