In the past 24 hours, Bitcoin's entire network was liquidated for $570 million, with short positions accounting for $470 million. This isn't a market reversal; it's clearly a premeditated "short hunting" — the main players violently pushed the price up on news, precisely cleared out positions, and thoroughly washed out the chips.

Here are some real-world situations:

1. The fuel is almost burned out: So many short positions being liquidated essentially means they are "feeding ammunition" to the longs. Now that the ammunition is nearly gone, the pressure from above will only increase.

2. A bloody lesson: 170k people were liquidated, with the largest single loss reaching $12 million. In extreme market conditions, not setting a stop-loss and stubbornly holding on is simply not worth the main players' attention.

3. Don't be fooled by appearances: After a violent rally, market sentiment is forcibly driven higher. Many have already lost their minds and rushed in to chase the high, but what the main players excel at is precisely turning around and hitting a quick counterattack.

The same old advice: don't get stubborn at this moment. The market never lacks opportunities; what it lacks is the calm and patience to stay composed amid sharp rises and falls. I remain skeptical about the logic behind this rebound.