Analysis: If Bitcoin loses the $106,000-108,000 range, the market may trigger a chain reaction

Matrixport's latest weekly report shows that Bitcoin prices have retreated to the $106,000-108,000 range, confirming a bearish trend model signal. A breach of this range could trigger a chain reaction in the market. Meanwhile, gold prices have broken through all-time highs, increasing pressure on European bond markets, and US debt issuance has skyrocketed. Technical support is strong, and historical data shows that initial pullbacks are typically not easily broken. Funding rates have fallen significantly, and implied volatility is nearing historical lows, prompting traders to adjust their positions in advance. Options market pricing suggests that investors may be underestimating the risk of subsequent volatility. While potential upside in the fourth quarter warrants attention, it is crucial to effectively manage risk exposure from a sharp decline.