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Recently, I observed the trend of a certain cryptocurrency and couldn't quite understand a question. Why push the price so high, invest operational costs into it, when the profitable longs have already run away? The number of retail shorts and the liquidation costs simply can't support this level. What's the current situation? The market cap is being pushed so high, yet no one is willing to take the position. Those shorting are ready to withdraw their positions at any moment, and there’s no movement in closing positions. Looking at the K-line chart, it seems no retail investors are coming in to buy the dip.
This is quite strange. What is the market maker betting on? Waiting for big players to enter? But with the current market sentiment, I really don't know how this move can be justified. The risks of standing firm at high levels, the pressure from liquidation costs, and the increasing difficulty of taking over positions—these three issues stacked together. Where is the profit logic in continuing to forcibly push the price higher? Brothers who understand the market, do you want to discuss this?