Macroeconomic headwinds, internal structural differentiation, and critical points of liquidation — the market is currently at the intersection of multiple forces. The trend change won't take too long; there are two directions to watch: will BTC break through 82k, triggering a chain reaction of short squeezes, or fall back below 79k, triggering long liquidation? Once the several hundred billion stablecoins sitting outside the market shift — whether upward or downward — they will significantly amplify the direction's momentum.