#BTC The knockoff projects that have been all the rage recently either see a sharp pullback, or they just get smashed down and never manage to recover. Meanwhile, the capital from these knockoffs is fleeing and flowing toward the “big pancake.” This has been discussed last week as well: when the truth behind the artificial “knockoff season” is exposed, that’s also when knockoffs start to go quiet. The already difficult knockoff projects will only become even harder. Although there were some attempts at controlling the market at the very beginning, it wasn’t very obvious; but lately, more and more projects have jumped in to control the market, and the heat has been rising. Inevitably, there will be a blow-up—like RAVE. I said it was too outrageous: a hundredfold in just one week, insanely fast. It has no backing and no technical breakthroughs, yet it can break 100x in a week. This kind of extreme market control is far too brazen, so it’s not surprising that when something goes wrong, it goes wrong. So what impact does the flow of knockoff funds into the “big pancake” have? The “big pancake” is currently at the stage of the Quankong watershed. As long as it breaks above the prior high again, it can break through the 80,000 integer milestone. And the 80,000 integer milestone is Quankong’s final psychological line of defense. Once it breaks through, market sentiment will surge, and Quankong won’t be stubborn. Either it gets cleared out, or it’s forced to exit—thereby pushing the price higher further. And right now, it has been staying around 78-pai as it keeps building strength and accumulating positions, waiting for the moment to decisively break through the 80,000 mark in one go. So the chances of breaking 80,000 are quite high.#加密市场行情震荡

BTC Liquidation Review — Shorts Suffer a Crushing Blow, 110,000 People Out of the Market Overnight Yesterday, behind Bitcoin's rebound, the futures market experienced a bloody "liquidation" storm. According to Coinglass data, in the past 24 hours, the total Bitcoin futures liquidation amount across the network reached approximately $118 million, with about 118,624,523 USD worth of positions forcibly closed. Shorts were the main players in this "harvest." As Bitcoin rapidly surged from $76,000 to near $79,000, a typical "short squeeze" effect occurred — rising prices triggered many stop-loss orders on short positions, which automatically closed and turned into market buy orders, further pushing up the price and creating a chain reaction of panic-selling. Between April 21 and 22 alone, total liquidations across the network once reached $270 million, with over 110,000 traders being liquidated. The liquidation amounts for long and short positions were nearly equal. This liquidation data conveys several important signals: First, the current market leverage level is quite high, and even slight market movements can trigger chain liquidations; second, shorts are already bleeding in a persistently negative funding rate environment, and misjudging the trend results in double punishment; third, after the peak of liquidations, open interest often contracts, and the market re-enters a deleveraging phase, which is actually conducive to the start of the next healthy rally. $BTC BTC traders should take this as a warning: high leverage has always been a double-edged sword. During periods of increased volatility, position management is more important than trend prediction. #比特币反弹 #爆仓

April 24 Midday Bitcoin Market Outlook Bitcoin surged yesterday evening but faced resistance at 78,600 and pulled back, quickly dropping to test the low support at 76,900 before bouncing back, currently oscillating around the 77,800 range for correction. After the decline, a technical rebound occurred, but the rebound's continuation is weak, and overall trading volume remains sluggish. The key resistance zone above continues to exert strong pressure, and the bearish long-term trend has not changed. The overall pattern remains one of rebound pressure followed by weakness and decline. In terms of trading strategy, continue to mainly short at the highs of the rebound, with light short-term long positions at low levels as a supplement. Currently, the short-term rebound momentum is gradually weakening, and clear signals of resistance are emerging. The risk-reward ratio for chasing gains at higher levels is very low, and selling pressure at the upper resistance zone could be released again at any time. Trading Suggestions Short at the high of the rebound in the 78,600–79,100 range, with the first target at 77,300. If broken, follow the trend to watch for a move toward 76,800.