There is an old saying in the crypto circle: "If you can't get over the hurdle after three attempts, it's more effective than the gates of hell." Today, BTC has directly hit it head-on.

As soon as the news came out this morning, something felt off — a major institution quietly liquidated 800 BTC spot holdings. Even more heartbreaking, the net fund inflow into the three major exchanges has been falling for four hours straight, now down to -1.83 million. This isn't a slow reduction in positions; it's a sprint to run away. With funds pulled out, how much longer can the rally sustain?

Let's look at the news first. Recently, the community has been talking about "institutions quietly reducing their positions." Although no one has said it outright, large sell orders below 96,000 are lining up — clearly not aiming to push prices higher, but rather preparing to dump.

Now, check the technical situation. Open the 4-hour chart, and the KDJ indicator is nearly in the overbought zone at 80, while RSI is also above 73, gasping for air; Bollinger Bands are hugging the upper band, which has historically been a warning sign for a pullback. The most noticeable point is the 96,000 level — it has been tested three times without success. Veteran traders know that prolonged attempts to break through will inevitably lead to a pullback, and this has long been an iron law in the crypto world.

This wave isn't a gentle correction; the bears are starting to seize territory. The resistance line at 92,000 is very likely to be broken tonight, with real support probably around 90,000. But don't be scared — this level will attract many bottom-fishing orders, and hitting it could actually become a springboard for the next rally.

Experienced holders, take note: if you have unrealized profits in your account, now is the time to cut about 40%, don’t wait until you’re numb from the decline to sell; those who haven't entered yet should not chase the high, be patient and build positions gradually around 90,000.