Bitcoin is approaching a critical technical level of $110,000, according to Matrix on Target's latest report. The report, highlighted by ChainCatcher, indicates that on-chain metrics and derivatives data suggest a significant market move may be imminent. Bitcoin, Ethereum, and SOL are exhibiting divergent signals in funding costs, leverage, and trading volume. Bitcoin is currently at a symmetrical triangle consolidation point, a pattern historically linked to rapid breakouts. The market's capital structure is evolving, with the 'digital asset treasury' narrative diminishing. In the current high-leverage environment, volatility could arise sooner than in previous years, prompting caution among market participants regarding structural risks.