Let’s take a look at some data BTC spot orderbook delta We draw a line along the delta peaks as shown in the chart It’s clear that the delta value is trending downward Now let’s switch to the contract orderbook delta Similarly, we draw a line along the delta peaks as shown in the chart The delta value is also trending downward, but the decline is less steep compared to the spot market At the same time, note that the short-term delta shows a decrease in selling pressure Next, let’s look at the taker buy/sell intensity comparison We’ve drawn two lines along the peaks and troughs respectively It shows that taker buy intensity is decreasing, while taker sell intensity is also reducing This indicates a shrinking volume, with long and short intensity entering a near-balanced phase From this, we can reasonably make the following judgments: 1. The price will likely hit a lower low, though we won’t speculate on the exact level here 2. Taker buy/sell intensity imbalance should occur soon, and we can’t rule out the possibility of a short squeeze happening between the 13th and January 20th, the anniversary of Trump’s inauguration For more timely data analysis, feel free to join my Telegram group https://t.me/+41tBKbGytlg0MDNl