Looking at this wave of the PLAY market, it's quite interesting. The more the bears accumulate, the more the market is pushed up — and the logic behind this is actually very clear: the market maker's first liquidity wipeout hasn't even started yet. During the entire rally phase, most of the longs and shorts are probably just the market maker playing around, stepping on the gas and then the brake. In the middle of the market, they are still actively building long positions, with real money backing the positions.

What's even more critical is that the funding rate hasn't turned negative yet. Think about it: with a position size of 10 million, how many chips does the market maker really hold? Those following the trend and opening positions now are essentially adding bricks to the market maker's wall, acting as liquidity tools. This kind of trading approach is indeed a bit "greedy."

Instead of passively participating like this, it might be more fun to just open your own exchange and play some single-player games.