BTC will run out of energy after breaking 85,000, Glassnode warns of the risk of a rebound

According to Woofun AI, BTC experienced a quantitative bottleneck after hitting the $85,000 mark. Glassnode detected that the rebound momentum was declining, and the market structure showed fragility. This phenomenon shows that although the price briefly broke through the key resistance, it lacked continuous funding capacity, putting pressure on the short-term trend to be re-evaluated.

Judging by the derivatives market sentiment, data released on Wednesday revealed overcrowding for long positions. The bearish/bullish ratio has fallen below the 1 threshold, and based on the 30-day average, the daily premium for call options is about $17 million higher than the put option. Data compiled by Woofun AI shows that this asymmetrical options pricing structure suggests a concentration of speculative purchases. Once price fluctuations intensify, it can easily trigger a chain reaction.

The more critical variable is the distribution of liquidation risk. Currently, the main liquidation concentration area is between $81,700 and $83,300, followed by $75,000, while the $60,000 to $63,000 range has accumulated larger liquidations. As the price of BTC falls below $85,000, the Binance order book shows the most significant buying support in the $81,000 to $81,250 range, which forms a critical short-term line of defense.

If BTC successfully recovers its $85,500 loss, the market focus will shift upward to the forward settlement range of $87,100 to $95,900, with the highest concentration of liquidations around $92,000. This is a new round of game between long and short sides surrounding highly leveraged positions following the previous turbulence. Whether or not it breaks through will determine the direction of the medium-term trend.