The recent surge in Bitcoin is just outrageous! It directly 'wrapped dumplings' for all the shorts below 101,400, and their positions were completely wiped out in this wave of market action. Now above 103,000, you can hardly see any large-scale short armies.

Originally, everyone thought Bitcoin would rise, but who would have expected it to launch like a 'rocket'? The key point is that there hasn’t been any explosive positive news recently, and this sharp rise has genuinely left everyone dumbfounded.

Why did it suddenly skyrocket? To put it simply, there are two reasons:

First, the shorts dug their own graves. As the price rises, these bearish people become more stubborn and madly increase their short positions. The more they add, the greater the risk of liquidation, and in the end, they can only be forced to buy coins at high prices to close their positions, which literally pushes the price up.

Second, the bulls are too timid. Except for a brief moment around 92,800 when they showed some courage, at other times they acted like startled rabbits, afraid to chase the highs. The market is like a tug-of-war contest, one side is exerting all its strength (the shorts passively pushing up the price), while the other side is just slacking off (the bulls are afraid to enter), and that’s how it kept rising.