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Currently, there are too many people betting on a decline and shorting.
From the chart structure of $BTC , there has actually been continuous funding coming into the spot side, and buying pressure has not noticeably retreated; but on the futures side, there are still people entering short positions, and the funding rate is kept at a relatively low level. This phenomenon usually does not resemble the prelude to a one-sided decline, but is more likely to evolve into a squeeze move.
Therefore, in the short term, it is unlikely to see a smooth downward trend. The greater probability is that the price will oscillate around the current position or slightly move upward, gradually clearing out the shorts through time and volatility, before another wave of decline 📉.