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I am more concerned about whether there will be new open interest and spot buy orders later on, otherwise it's just a back-and-forth harvest.
After liquidating the short positions near 75,000, there are no obvious large orders above, and no clear accumulation of longs below.
The bullish and bearish directions are not clear.
The margin calls have all been completed, and those taking profits have already exited.
After breaking through 75,000, some big players were eager to go long with large positions, but they were liquidated in less than six hours. The liquidation point was very close, and after the market broke 75,000 and briefly retraced, it smoothly moved higher.