The price of BTC fluctuated between 107400 and 108500 this morning. Currently, the price is maintained below 108200, and the next resistance level is expected to be between 108500 and 110000, while the support level is at 107500 and below.

From a technical perspective, various indicators remain neutral. However, on-chain data indicates that there is a risk of selling pressure from large holders. Meanwhile, the derivatives market shows optimistic expectations for a breakout in the third quarter.

The market trend in the afternoon is worth paying attention to, especially the performance of the US stock market and the potential impact of tariff policies, as well as the changes in trading volume in the European market. If the price falls below 107500, it may further drop to 106500.

Considering the current market situation, I personally suggest considering a short position around 108200, with a target price set at 107200. However, investors should proceed with caution, closely monitor market trends, and adjust their strategies in a timely manner.

It is worth noting that the cryptocurrency market carries high risks and prices fluctuate significantly. Investors should fully understand the relevant risks before making any decisions and make judgments based on their own risk tolerance. At the same time, it is also important to pay attention to the potential impact of regulatory policy changes on the market.