BTC's current trend makes me vaguely feel like the market might face a major downward liquidation. In the past 7 days, $1.01 billion in spot has flowed out, and the dominance is gradually declining. BTC's key support is around 109,500, and short-term holders' on-chain positions are at 108,900. In other words, as long as it breaks below 109,500, these short-term holders are likely to panic and sell, causing the market to drop directly.