The greatest risk in the market is not a sudden crash, but a concentrated resonance of multiple bearish factors.

Bitcoin fell below 61,000, dipping to around 60,100. The tech sector in the U.S. stock market weakened, speculative sentiment cooled; Bitcoin spot ETFs saw continuous large outflows, with net outflows of $6.35 billion over the past 30 days, hitting a record high, as institutional capital exited en masse.

The futures market experienced a long squeeze, with $650 million in total liquidations across all exchanges in 24 hours, mostly long positions. High leverage makes it extremely easy for positions to be liquidated in a downtrend.

Subsequent risks follow one after another: On the 26th, options worth $10.6 billion will expire, with the 60,000 level acting as key support. If it breaks, panic will spread quickly. At the same time, PCE price data and corporate earnings reports are about to be released, which could reshape short-term trends at any time.

A single bearish factor is nothing to fear, but layers of bearish factors accumulate, coupled with no capital entering to support the market, is the biggest hidden danger for the market. The fate of the 60,000 level will determine the overall trend at the end of the quarter.📉$BTC $ETH #0成本拿2股SK海力士