Bitcoin's recent performance has indeed been a bit weak. Although there was a rebound attempt in the sideways range on Friday, it still failed to break through the previous high of short covering, and it looks like it's starting to move downward again. At this pace, breaking below the 85,000 support level is already a high-probability event.

Currently, the short-term bulls are making their last stand around 87,000, which can be seen as the final exit opportunity for the bulls. If they can't hold this level, the downside space will open up. Interestingly, the put option pain point on the 26th is exactly at 85,000, which also indicates the market's emphasis on this support level. Overall, now is the time to patiently wait for shorting opportunities and not rush to enter the market.