The price broke below the 80k level and dipped near our key zone.

Although there is still a possibility of a clear washout and shakeout in the future, the probability has been decreasing continuously.

Yesterday's market already showed signs of a shakeout, with overall internal indicators leaning bearish, and it was previously predicted that the market would need further clearing of long positions.

Currently, open interest (OI) is at an absolute high, indicating that the market's existing positions are sufficient, and after the price broke support, the bears continued to aggressively add to their positions.

At the same time, there are still many late-entry short sellers chasing the market, and once the low point shakeout is complete, it is highly likely to trigger a short squeeze rally.

Currently, perpetual contracts and spot CVD are weakening across the board, with sellers fully dominating the market trend.

Market liquidation volume continues to grow, and the accumulation of long positions above 80k has been heavily cleaned out; we previously warned that the long shakeout was not over and that a second wave of selling would come, which has played out as expected.

At this stage, 80k has become a strong resistance. If the price can break through this level effectively, it will trigger a short squeeze, with the market moving upward toward the 82k level.

Conversely, if the price falls below the pwO support zone again, the market will quickly drop to the 76k–77k range.