Brothers and sisters, did you all catch this wave of market movement last night? Bitcoin surged straight from $74k to $78k. On the surface, it seems to be stimulated by US-Iran news, but the real driver is—collective liquidation of contract shorts.

Within one hour, market liquidations of short positions reached $357 million, a textbook short squeeze. Note, this is not new capital flowing in, but a violent rebound triggered by forced short covering. The characteristic of this rise is: fast, fierce, but not necessarily stable.

Many people see the increase and shout "bull market return," but I want to remind you: relying solely on short squeeze cannot confirm sustainable spot buying. If there is no genuine demand follow-through next, prices could fluctuate repeatedly. Half the month has passed, and I remain bearish on the long-term outlook for next week! A rebound above 78,000 on Monday could be a good entry point for short positions, with the first target at the 70,000 level, breaking below 68,000! You can short around 2,460 at the "Auntie" level, with the first target at 2,200!