The current logic for shorting gold is: after the Japanese yen's interest rate hike, it appeared that the unfavorable information was fully priced in, and major trading assets like encryption/gold saw a general rise; however, after the interest rate hike, the yen depreciated rapidly, so the funds borrowed in yen are not in a hurry to close positions and repay, as the real unfavorable information has yet to materialize. With the current rise in the yen's exchange rate, part of the borrowed investment funds will take profit, which will lead to liquidity drying up and usher in a new round of general falls.