This movement could be similar to the previous range around 103,000, where one scenario could be consolidation and oscillation near 109,000, leading to the majority of positions being concentrated between 108,000 and 109,000.

Strong liquidation pressure on long positions, with concentration near $104,000 and significant liquidation pressure around this level.

Moving forward, focus on macroeconomic data and whether BTC can return above $105,000. If it can, a cautious bullish outlook remains.

The funding rate is a recurring cost, or income, that traders either pay or receive, depending on market conditions.

The slight increase in market share indicates that the market is temporarily avoiding high-risk assets and returning to BTC for risk aversion, placing it in a defensive structure.

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Key news to monitor is the US Federal Reserve's meeting results in mid-June.

However, Bitcoin spot ETFs have experienced net outflows for three consecutive days.

BTC price dropped below $107,000, reaching a low of $106,800, and then rebounded to a high of $108,133. It is currently fluctuating below $108,000.

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This movement could be similar to the previous range around 103,000, where one scenario could be consolidation and oscillation near 109,000, leading to the majority of positions being concentrated between 108,000 and 109,000.