#加密市场回调 Analysis of the 15-minute chart trend shows that Bitcoin first rose to the 116380 area but encountered resistance and was forced to pull back. Subsequently, multiple attempts to break through the 115500 resistance level all failed, gradually forming a typical weak pattern of "sharp rise and pullback + consecutive Bearish lines," clearly reflecting short-term short positions trend characteristics. Funding data indicates that net outflows have consistently remained above -200 million dollars, indicating that long positions funds are withdrawing from the market, and selling pressure is continuously accumulating, resulting in a clear resonance effect between the technical and funding aspects. Regarding the external environment, the rise of US tech stocks has weakened after hours, reducing the driving force for Bitcoin's upward linkage, with external market sentiment leaning negative.