Bitcoin is currently fluctuating around $91,500. From the position distribution perspective, the situation here is a bit interesting——the number of long and short accounts is close to 2.5:1, but the difference in position value is more pronounced.

The average cost for longs is around $91,800, in other words, the overall position is currently at a floating loss. Rough estimates suggest the floating loss is about $18 million. Interestingly, the number of long accounts is still gradually increasing, indicating that the main players are not backing down but rather holding firm.

On the other hand, the shorts are in a different situation. Their average cost is about $86,000, currently in a floating profit, but their positions are relatively lighter, suggesting they are more focused on short-term trading.

The core question in the market now is—can the longs push the price back above their cost line? From a trading perspective, if the price approaches the $90,500–$91,000 range, you can try a small long position, with a stop-loss set at $89,500 for safety. If there’s a rebound to around $91,800 and signs of stagnation appear, consider reducing your positions gradually.