The first target of 74,500 that I mentioned last week has been reached, and I’ve already taken partial profits in batches earlier. Right now, my view is not to rush into shorting. Let’s wait for a rebound. The midline of the descending channel, around 74,800-75,000, is a potential rebound zone. If the rebound shows reduced volume and no significant buying support, that’s the opportunity to continue shorting, with a target of 70,000-72,000. Once this range is hit, the shorting task is basically complete. We’ll reassess the next steps as the market unfolds—taking it one step at a time. A few supporting signals back up this judgment: - Funding rates have remained slightly positive throughout the decline, indicating that retail traders are still buying the dip as prices fall. The "ride" hasn’t been fully cleared yet, and there’s no sign of a short squeeze, which actually strengthens the case for continuing to short. - BlackRock’s IBIT saw its largest single-day net outflow in history today, and this happened alongside a massive $3.6 billion trading volume. The signal of institutional retreat on the spot market is very clear. - Bitcoin ETF fund flows are currently the most critical reversal signal. As long as ETFs continue to see net outflows, the direction won’t change. When outflows stop and funding rates turn negative, that’s when it’ll be time to reassess the direction. Until 70,000-72,000, just keep waiting. #Crypto #Bitcoin #BTC $BTC