Why did the price drop?

Analyzing the spot order book and CVD on @kiyotaka_ai, we can observe that during the recent price rise to 107,700, the spot CVD did not increase, indicating that new buy orders were fully absorbed by sellers.

Additionally, examining Open Interest, we see it did not rise alongside the price. Instead, Open Interest decreased, signaling the closure of positions, a bearish indicator suggesting the move was primarily a short squeeze rather than a genuine bullish trend.

Additionally, a strong wall of limit orders at 108k was clearly visible. All these factors combined indicated an impending price drop.