1. Binance BTCUUSDT perpetual contract long short ratio (LSUR)<1 2. Bitfinex BTCUSD experiences a discount compared to other US dollar exchanges 3. Bitfinex BTC leveraged long position reduction The above three piece set of data If it occurs during a consolidation period, it is usually a "short-term peak" signal, and market funds begin to be conservative. If it occurs after a bulldozer style uptrend and breaks through an important pressure level, it is actually a symbol of the "main uptrend start" and belongs to a wash plate style turnover. The price around 84K that appeared this time did not show a significant surge or breakthrough, and is still below the daily line of 200MA. If we follow the statistical distribution, the probability of a decline is relatively high. I bought a little put to avoid risk, but now it seems that I am overthinking, just a data reaction in advance The birth of BTC itself was a response to the collapse of fiat currency credit after the 2008 financial crisis. The current environment of declining US Treasury credit and depreciation of the US dollar is giving BTC a stage to perform. Yesterday, BTC did not follow the decline of the US stock market, which is a positive and important signal. But to truly complete the transformation into 'digital gold', more victories and confirmations are needed. BTC During the transition period, success in the transition will turn into a gold alternative, while failure will turn back into a minor player in the US stock market. I hope it can succeed!