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80,000 thresholds, 5 quick reviews Quick Review 1: Up 23% in One Week, But Fuel Is Not Faith BTC surged from 64,500 to 81,000, a weekly drop of 16,000 dollars. On August 19, short positions were liquidated by $1.37 billion. On August 20 alone, 180,000 people were liquidated, totaling $3.264 billion. The fuel for this round of rally is the bears' corpse, not the bulls' faith. K33 himself said — this is the largest single-day short squeeze since their statistics began. To put it plainly: The rise isn't because everyone is optimistic, but because the short sellers have been squeezed out. The market runs over the corpse. Quick commentary 2: The bears have been washed clean, and the bulls haven't added leverage Glassnode data shows that futures open interest has fallen to about 587,584 BTC, the lowest in nearly five months. This is a significant drop from 645,760 BTC in mid-August. The short positions have been cleansed out. But the bulls didn't leverage either. The market is now in a vacuum—no positions, no direction. Whoever acts first is the next to be liquidated. Quick Review 3: ETF is buying, but the nature of the money hasn't been decided yet Last week, the net inflow of US spot BTC ETFs was about $1.92 billion, a 10-month high. BlackRock IBIT was bought for five consecutive days, with $209 million absorbed in August 24 alone. Institutions are voting with real money. But is this money just chasing gains or just a strategic move? As of August so far, total inflows have reached $2.72 billion. The problem is—the higher the price, the stronger the willingness of holders to take profits. Whether ETF buyers can catch the high selling pressure is the key to whether this rally can continue. Quick Review 4: At 4 p.m. today, $6.44 billion in options expired About 81,700 Bitcoin options on Deribit expired at 16:00 Beijing time today, with a nominal value of $6.44 billion. Call options are concentrated between 75K and 80K. Maximum pain point is 68K. Translation: Market makers hope prices will drop to 68K, turning the most options into worthless paper. Thursday afternoon may be the most volatile hours of the week—market makers' hedging adjustments amplify price action. Don't eat in front of your computer. Quick Review 5: Just remember two numbers The above 83K is a confirmation of a bull market—Bitget Research Institute said it effectively breaks through 83K, with a target of 85K-90K. Below 74K-76K is a bullish defensive line. 80,000 is a psychological threshold, not a technical end. Only after the option reset can the true trend direction become clearer. After 4 p.m. today, we'll see for ourselves. $ETH $ETH $SOL #BTC冲高回落, options expiration amplifies the threshold for gambling