Short squeeze consumes the shorts, while the main rally consumes the skeptics

Looking back at history, short squeeze rallies tend to come quickly and move rapidly, leaving the market with more of a "too late to react" impression; whereas the main rally truly exhausts those funds that are constantly doubting and constantly missing out.

Currently, the market has not been thoroughly squeezed out of shorts; instead, most funds are on the sidelines. This means that the main obstacle to price increases is not selling pressure, but confidence.

The continuous inflow into ETFs and the stability of on-chain chips are gradually eroding this skepticism. But as long as the market is still discussing "Is this a trap?" or "Will it pull back soon?", the trend has not reached an extreme stage.

Therefore, instead of debating whether this is a short squeeze or a main rally, it's better to ask a different question: if BTC consolidates at a higher level for a period of time, will your current position make you regret it?

The answer the market gives is often hidden within this question.

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