Currently, Bitcoin is in a bear market rally phase, with today's surge clearing approximately $100 million in short liquidity. However, macro factors (Hormuz blockade, Federal Reserve not cutting interest rates, Asian stock markets broadly declining) have not improved, and the rally is more likely a prelude to a subsequent dip after gaining liquidity. On the operational level, Arling holds 71,600 short positions (tiered take profit at 70,200/68,200), and is also looking for higher-level shorting opportunities at 74,300–74,900 and 82,600–83,000; if it falls back to 67,600–68,300, it can combine small-scale patterns to do rebound longs; for larger-scale spot positions, firmly buy in batches at the 56,000–57,700 golden pit, waiting for the bear market bottom to be completed.