#大户持仓变化 $BTC is still struggling around $86,000, and in the past two days, there hasn't even been a decent 90-minute rebound.

Looking at the short-term and medium-term trend lines both starting to bend downward, the main force's intention is very clear—they have no intention of bottom-fishing. Every time the price rebounds to around 90,150, it gets hammered down, and trading volume has been shrinking. This kind of rebound strength won't last long.

The KDJ indicator indeed shows that the decline is a bit overdone, but from the candlestick pattern, this looks more like a continuation of the downtrend rather than a bottom. The real key is tonight—if the closing price falls below 85,935, the next line of defense is at 85,146 before any chance of resistance. In the short term, focus on the 85,900 level; whether it can hold is crucial.

The underlying pressure comes from macro factors. The possible interest rate hike by the Bank of Japan combined with the market's re-pricing of Federal Reserve policies, these dual factors have made market sentiment noticeably cautious. Under this background, the performance of $ETH and $SOL also appears somewhat powerless.

Both technical and macro perspectives point in the same direction—it's all about whether the key support can be held in the short term.