Jinse Finance reported that Matrixport released a market opinion stating that the scale of forced liquidations in bitcoin has generally remained low. Even when the price dropped to lower levels, significant liquidations only occurred during the decline triggered by tariff news in March and the rebound in April this year. During the recent pullback to $106,000, there was also no large-scale liquidation, reflecting that the leverage level in the futures market remains relatively healthy. Downside pressure is limited, and the risk focus has shifted to the upside; if the price continues to rise and concentrated stop-loss orders are triggered, it may further drive bitcoin's upward momentum.