1. Key price levels: The resistance levels are concentrated at $2930 - $2950, which was previously a short-term support level that has now turned into a Reverse resistance. The primary support levels to focus on are $2800 - $2770. If broken, there is a high probability of a further dip into the $2750 - $2720 region.

​
2. Operational risk warning: First, high leverage trading may trigger liquidation, with a long position liquidation scale that falls below $2670 or reaches $741 million; second, ETF fund inflows are weak and have previously experienced large net outflows, with institutional holdings concentrated, which may exacerbate liquidity volatility; third, on-chain activity is cooling, and deflationary logic is difficult to support prices, coupled with strong bearish market sentiment, the risk of short-term fluctuations to the downside is high, it is recommended to control positions and avoid blindly bottom-fishing.