Bitcoin breaks through the $91,000 mark, and a wave of short liquidations hits within 24 hours. Data shows that over $166 million worth of cryptocurrency short positions were liquidated in the past day. This wave of liquidations reflects a rapid shift in market sentiment— as BTC continues to climb, short sellers face increasing losses, triggering a chain reaction of stop-loss liquidations. In the short term, large-scale liquidations often push prices higher, creating a positive feedback loop. In the long term, such large-scale liquidation events also test the market's true support levels. Investors need to closely monitor subsequent developments, especially in high-volatility environments where risk management of leveraged positions is particularly crucial.