Christmas Eve's market action indeed caused quite a few headaches. BTC has been sliding from $90,000, and as liquidity begins to cool down, many short-term traders are already considering cutting losses and exiting.

But a close look at the distribution of chips on the backend reveals that this pullback actually exposes the true intentions of the institutions. To borrow that classic investment saying: the market is essentially a system of wealth flow, transferring money from those who are easily shaken to those who know how to wait.

The current situation is very typical—news of options expiration is everywhere, and various bearish signals are continuously being released, all aimed at creating panic. Just look at the panic sell-off when BTC briefly dropped below 88,000; that was actually the best opportunity for institutions to accumulate at low levels.

Don't rush to give up your chips. A look at the 4-hour chart makes it clear—although the price is oscillating around 87,060, there is a clear support at 86,400 below. This support is not just a placeholder; it’s a defensive line laid out in advance by the institutions.

The market is never short of opportunities—most people just choose to exit at the worst times. And those institutional investors? They’ve already been laying in wait at low levels.