Many people believe that the price of Bitcoin is too high and will definitely plummet, cutting the chives, so retail investors will only short at high prices because they have a mindset that they cannot 'chase highs and cut lows', as they think chasing highs and cutting lows is the behavior of retail chives, and this commonly recognized knowledge is the main reason why chives get cut. $BTC

No chives are willing to go long on Bitcoin at its historical highest price, they are just placing small short orders, waiting for the plunge.