Looking at the recent transaction structure of IP, it becomes clear—this rally is actually a "false move." The price has been consistently forming long upper shadows at high levels, and each upward push is followed by large traders offloading their holdings. This is not a trend initiation; it’s purely a last-minute attempt to find buyers before the mid-January unlock wave.

The chips are concentrated on Korean exchanges, and this structure is most vulnerable because it heavily relies on fresh inflows from OTC markets. Once OTC stops following in, large traders inside the market start to offload, and the price can easily collapse. Just a small selling pressure can trigger a chain reaction.

The mid-January unlock wave for VC and the team is an unavoidable hurdle. Those chips, almost at "zero cost," are hovering around 4.0 USDT, and any rational institution wouldn’t let go easily. The current volatility is essentially making room for these cheap chips to escape.

From a trading perspective, consider establishing short positions in the 4.0 to 4.06 USDT range, with a stop-loss set at 4.35 USDT (a breakout would indicate strong bullish inducement). The first target is 3.65 USDT; if it fails to hold, the price could drop below 3.00 USDT. In this scenario, every rebound is a good opportunity to add to short positions.

The most terrifying moment in the market often occurs when everyone thinks it can "go one step higher." Don’t be the last to buy in; standing on the short side before the big flood arrives is the wise move.