[BTC Holdings Reach Record Highs but Prices Continue to Decline, Long Positions Face Liquidation Pressure] Greeks.live Chinese community briefing pointed out that BTC holdings have reached an all-time high, but prices continue to decline, with the long-to-short ratio reaching 4:1. Market consensus suggests that long positions are being gradually liquidated. Community members are generally bearish, believing the market is in a state of extreme panic and experiencing a spiral squeeze. Key focus ranges are BTC $86,800-$85,000 and ETH $3,000-$2,000. Some traders anticipate a rebound after Thanksgiving, but there is disagreement on the bottom price level, with predictions that BTC could drop to $76,000 or even $50,000. Analysts such as the CryptoQuant CEO believe the deleveraging cycle is nearing its end, but traders within the group emphasize sticking to strategies and consider holding cash as the safest option for now while waiting for opportunities.