Today's Market Overview (1) The past couple of days have been so chaotic... Lots of back-and-forth moves and fakeouts. With the order book looking so empty in the middle, plus the monthly and quarterly candle closures coming up, it's basically hard mode right now... Let’s take a full look at today’s situation. First, check the order book (Pic 1). The orders are pretty clear—spot sell orders near 85k are still suppressing the price, and they’ve even moved down further to around 84.7k... On the downside, 82k remains the key demand zone, supported by Binance spot contracts + Coinbase spot orders. Now let’s factor in the liquidity for short liquidations at 85.6k and long stop-loss orders at 82.5k on Hyperliquid (Pic 2). ---------------- These two areas form the current range: Low longs at 82~83k and high shorts at 86~86k. ---------------- Relatively speaking, breaking upward is harder. To eat through Binance’s spot sell orders, we’d need either some good news, a sudden withdrawal of orders (this has happened before, where price control was followed by a surprise breakout), or another ETF with over $500M net inflow... So for today, we can keep watching these two levels. If yesterday’s low at 82.5k doesn’t hold and price continues downward, watch for an SFP or entry model for low longs. If it breaks down and doesn’t recover, we’ll need to revisit the three mid-cycle low-long zones listed yesterday... (Refer to yesterday’s market overview). ------- To be continued—funding dynamics are getting interesting, will post separately.