In recent days, looking at BTC's trend, using "roller coaster" to describe it is truly fitting — just moments ago, it was singing praises above 90,000, and then the K-line slapped that idea in the face, which really left people a bit stunned.

Looking closely at the 8-hour chart, signs of a short-term top are already very obvious. Starting from the high of 94,760.3, BTC hasn't pushed higher, but instead, red K-lines keep appearing one after another, with the downward rhythm becoming more regular and the buying strength clearly insufficient. What does this market behavior indicate? It suggests that short-term speculative funds are gradually exiting.

Some might ask, isn't 90,000 an important support? Why does it seem to have dropped directly to 88,800? The key is that short-term market movements in the crypto space are just so capricious — they come quickly and go just as fast. This wave of upward movement was driven by short-term funds, and once those funds start to withdraw, the decline tends to be sharp and fierce. From a technical perspective, the current downtrend has already taken shape, and the rhythm of red K-lines is becoming increasingly clear.

Of course, there is never absolute certainty in the crypto world. If some major positive news suddenly emerges and funds flood in, it’s not impossible for BTC to stabilize around 90,000. But for now, the short-term downward trend has already begun to show its power. Rather than risking being caught in a squeeze chasing the high, it’s better to wait and see, using the 88,800 level as the next observation point.

Ultimately, in this market, the only principle to live by is: the color of the candlesticks reflects the flow of real money. Behind the red declines and green rises, it’s all genuine funds making their choices. All we can do is follow the trend and not get lost in the short-term hype.