The total network position has dropped from over 100 million to more than 70 million, which means the overall position has decreased by 30%. Currently, retail investors who should run have mostly already done so. There may be some who are stuck and cannot escape; the remaining institutional investor cannot perform a solo act. If retail investors run and the institutional investor does not, then who will provide liquidity for them? A single liquidation can at least push the price down by more than 10% instantly.

From the market, it is clear that the institutional investor is conducting a stress test to see if they can escape. As I previously wrote, the institutional investor is already in an invulnerable position, and now they only need to consider how much profit to make.

PS: If the market does not have enough depth for long positions, the institutional investor cannot liquidate because there are no counterparties to accept the trade. Therefore, before delisting from Binance, the institutional investor must exit; other platforms cannot handle this trading volume. If you go ahead and open long positions, then you are truly handing money to the institutional investor to support them as they exit.

Da Ge has already started to lay out short positions. Brothers who want to profit should follow along. I will update the operations in the group in a timely manner.