Data analysis:

According to the current liquidation map, the market is still dominated by bulls. Based on the current Bitcoin price around $12,000, if the market fluctuates by another $2,000 up and rises to around $12,200, it is expected that the cumulative liquidation amount of shorts could reach approximately $1.7 billion. Conversely, if the market drops to around $11,800, the cumulative liquidation amount of longs is expected to be about $1.2 billion.

The Bitcoin spot ETF saw no inflows or outflows of funds yesterday, while the Ethereum spot ETF had an inflow of $108 million yesterday.

Market Outlook:
Market Direction: The daily chart continues to fluctuate sideways. Currently, the overall 4H and daily levels of the market are still in a fluctuation zone, while Ethereum is also primarily in a consolidation phase. Whether there will be another independent trend later on needs further observation, so contracts should still focus on short-term and swing trading. As for whether altcoins can continue to rebound, it still depends on Ethereum's performance in the later stage; I personally believe that as the end of the month approaches, we should pay more attention to when the market can break out of its high-level fluctuations for effective trend changes.

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