Just now, Tether, the parent company of USDT, issued an additional 1 billion USDT on Justin Sun's Tron chain, marking the first issuance in 17 days, which is no easy feat:

Previously, USDT had been issued on the Ethereum chain, but this time it finally went to Justin Sun's Tron. It seems that after being listed on NASDAQ, there is indeed some effect. Congratulations to Mr. Sun.

Given the issuance of USDT and the new influx of funds, I have decided to take profit on my 119,600 Bitcoin short position for now and observe the situation. There is indeed resistance at 120,000, and on-chain data should also be taken into account. When the two conflict, it's best to just wait and see~