Data Analysis:

From the current liquidation map, the overall Ethereum market is dominated by bears, but it is already liquidating long positions.
The current price of Bitcoin is 113,000 USD. If it rises to 115,000 USD, it is expected that about 913 million USD in short positions can be liquidated. If it falls to 111,000 USD, it is expected that about 1.27 billion USD in long positions can be liquidated.

The current price of Ethereum is $4103. If it rises to $4203, approximately $612 million in short positions are expected to be liquidated. If it falls to $3993, approximately $1.07 billion in long positions are expected to be liquidated.

ETF Fund Flows (Yesterday)
BTC Spot ETF: $210 million outflow
ETH Spot ETF: $250 million outflow
SOL Spot ETF: No inflow or outflow at present

Market Viewpoint:
Market Direction: Bearish. From the current market trend, the daily level of the market still shows weak rebounds and remains in a downward trend. The key point is that the market will continue to decline, and Ethereum along with most altcoins will also pull back. Personally, I believe the focus should be on where the market will stop falling, with short-term attention near 110000. If it cannot hold and breaks below, it will continue to accelerate downward. Therefore, a short-selling strategy on rallies is recommended in the short term.

At the same time, regarding the news, pay attention to Powell's speech at 10 PM on August 22 this Friday, which will affect whether there will be a rate cut next month and impact the market trend.