After thinking about it, I realized that the intention behind the big pancake's comeback to break new highs is somewhat clear. I reviewed the liquidity liquidation chart and the spot/futures premium difference chart, and it seems like I understand a bit better.

1. Last night, after breaking new highs, the short-sellers immediately went for high-leverage contracts, with liquidation prices concentrated just above the new highs.

2. The spot premium decreased, and the price surged, indicating that it is the futures driving the market.

In summary, this morning's surge is a targeted explosion against last night's high-leverage contracts.

I continue to be bearish!!!! The bears will never be slaves; unless it reaches 102000, I will never close my position $BTC