The surge of Bitcoin at $BTC is outrageous! It directly wiped out all the short positions below 101400, leaving the shorts completely cleared out in this wave of market movement. Now above 103000, there are basically no large-scale short positions to be seen.

Originally, everyone thought Bitcoin would rise, but who could have imagined it would perform a 'rocket launch'? The key is that there hasn't been any explosive positive news recently, and this sharp rise has truly 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 rose, these bearish individuals became more aggressive, frantically adding short positions. The more they added, the greater the risk of liquidation, and in the end, they had to buy coins at high prices to close their positions, which literally pushed the price up.

Second, the bulls were too timid. Except for a brief moment around 92800 when they showed some resolve, at other times they acted like startled rabbits, afraid to chase the highs. The market was like a tug-of-war match; one side was pulling hard (the shorts passively pushing the price up), while the other side was just treading water (the bulls not daring to enter the market), which naturally led to a continuous rise.