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From a liquidation perspective, BTC pulling back to 119,000 and Ethereum pulling back to 3,900 has much better cost-effectiveness than continuing to go down. In the short term, if Bitcoin falls to 102,000, it can only explode 2.3 billion bullish traders; however, if it rises to 125,000, it could explode 4 billion bearish traders. Currently, the pullback depth of Bitcoin around 113,000 and Ethereum around 3,500 is considered acceptable. To continue achieving the force to liquidate bearish traders, BTC would need to fall below 110,000 and ETH below 3,200, which currently seems unlikely.