#比特币价格分析 Observed that Bitcoin recently broke below the $90,000 mark, mainly influenced by liquidation pressure, weak ETF demand, and macroeconomic uncertainties. Data shows approximately $420 million in long positions were forcibly liquidated within 24 hours, and ETF capital has been flowing out for six consecutive weeks, totaling over $2.8 billion. From on-chain fund flows, long-term holders are still increasing their holdings, but a quarter of the circulating supply is in loss. Currently, the $90,000 to $86,000 range is a key support level; if it is broken, further declines may be triggered. It is recommended to monitor new ETF capital inflows and changes in macroeconomic pressures to assess the market trend. Short-term volatility is intensifying, and investors should operate cautiously and implement proper risk management.