There has been little aggressive long positioning for a long time, largely because everyone is watching the miner movement signal on January 11th. The earliest holders basically liquidated their positions around the 50,000 price level, and now the entire group only holds over 600,000 BTC. Recently, I also saw 2,000 coins flowing—this is indeed a significant amount for this group. Every time they sell, it is often accompanied by a clear downward expectation.

So although there are quite a few bullish signals technically, I still prefer to wait for a high-level shorting opportunity. Yesterday, after reaching a high of 923,000, it pulled back. Now I’m a bit unsure—will it drop directly, or will it first surge to 95,000 before adjusting?

Honestly, I don’t dare to predict much. Given the current situation, it’s only possible to take one step at a time and wait for the miners’ next move.