Bitcoin has broken through its historical high to 110800. I know that many people started shorting at 104000 to try to catch the top, and I have warned many times that as long as the trend doesn’t reverse, they should abandon the idea of shorting. Trading is objective; one cannot make assumptions based on subjective judgment. However, the market has taught us a lesson. For Bitcoin right now, the trend is continuing, so don't short easily. For spot holders, gradually reducing positions is reasonable.