**Market Sentiment Turning Cautious**

The Fear and Greed Index has dropped to 26. Interestingly, while prices are surging, the sentiment index has fallen back from yesterday's 30. This indicates that those who bought in are feeling nervous and lack confidence.

**Data Tells the Truth: Who's Bleeding**

In the past 24 hours, total crypto contract liquidations reached $179 million, with $130 million from short positions. This rally from $91,000 was essentially driven by short sellers' margin calls.

**Bitcoin's Footing Has Pitfalls**

Currently, the price is steady at $91,077, but the problem lies below. The liquidation heatmap shows a sudden concentration of long position liquidations between $89,000 and $90,500. Why? A group of retail traders saw the breakout above $90,000 and increased leverage, but their stop-loss orders are clustered around $90,000 or $89,000. This market structure is favored by big players. Instead of pushing prices higher, they prefer to first drop 1,000 to 2,000 points, trigger these stop-losses, and then continue upward, minimizing costs and maximizing efficiency.

**Ethereum's Narrow Bridge Risk**

Ethereum has barely stayed above $3,100, currently at $3,138.6, but the $3,000 to $3,100 range is crowded with profit-taking and chasing longs, making support levels congested. If Bitcoin pulls back, Ethereum could easily drop straight down, returning to $3,050 or even $3,000, which are normal correction levels.