CryptoQuant posted that over the past three weeks, Bitcoin has undergone a correction of about 15%, falling from the $70,000 range to the $60,000 range. With Bitcoin's large correction yesterday, signs of a possible local bottom have emerged: Futures market: Unpositioned squaring contracts have decreased by about $3 billion in the past three weeks, mainly due to long position squaring. Funding rates for perpetual contracts have fallen to near zero, indicating a more balanced relationship between buyers and sellers, resulting in a healthier and less overly optimistic price structure. Short-term holders: The price has exceeded the realised price of short-term holders (STH), which is $62,600. Currently, the average profitability of short-term holders is slightly negative, and this has historically been the support point for partial corrections in the uptrend. In recent months, an important factor affecting price movements has been US macroeconomic data, as uncertainty about the future of US monetary policy can affect investors' risk appetite. On Thursday, we will have GDP and initial jobless claims data, and on Friday, inflation data (PCE), which are expected to shape market sentiment in the short term. However, judging from the current structure, there may be a partial bottom.