#比特币价格走势与周期 The liquidity exhaustion before Christmas is indeed a warning sign to watch out for. Recently, the Chinese community has shown increasing divergence on the short-term direction of Bitcoin—some are bearish on the $90,000 resistance, while others are still dreaming of a long position. This polarization itself suggests that market participants' confidence is weakening.

The key issue is that when volatility drops to historical lows, contract longs continue to be squeezed, which is a dangerous signal combination. Liquidity exhaustion means that once sentiment reverses, the selling pressure will be amplified. I recently adjusted my copy trading strategy—reducing positions for high-leverage aggressive traders and increasing the weighting for more cautious traders with strong risk awareness.

Historical lessons tell us that the night before holidays is usually not a good time to add positions. Instead of chasing breakouts, it’s better to optimize position sizing and keep enough ammunition for real opportunities. Observing cracks in market consensus is often more valuable than blindly following a particular direction.