This round of market movement is not a bull market, it's a "short squeeze" market. Recently, there's a very unusual point in the market: prices are rising, but sentiment isn't enthusiastic. BTC has been repeatedly testing the 74k-76k range, failing to break higher multiple times, but it just won't fall below. Many think this indicates weakness, but in fact, it's quite the opposite. This is a typical "crowded short" scenario. A key data point in the current market is: the funding rate has been persistently negative for over 40 days, which means—more people are short than long in the market. But the price hasn't collapsed. What does this indicate? It shows that a larger force is absorbing the sell-offs. ETF inflows continue, institutions are accumulating, and macro risks easing slightly triggers a rally. This isn't a retail investor trend; it's a structural capital game. The real key point here is: as long as the price doesn't drop significantly, shorts must keep covering. And once a key level is broken, for example, 76k, it triggers not "buying on the rise," but "forced short covering." That moment is when the acceleration truly happens. So, the core of this market movement isn't the bull narrative, but: who's being squeezed out. If you're still judging the market based on emotions, you'll always feel "why is it rising so strangely." But if you look at the structure, you'll understand one thing: this isn't an upward move, it's a liquidation. #Gate广场四月发帖挑战 $BTC

Why am I holding bitcoin instead of data center juju btw?

🚨 🚨 🚨 🚨 🚨 1,499 $BTC (111,938,190 USD) transferred from unknown wallet to Coinbase Institutional