Back to the market itself, after Bitcoin stabilizes at 78,000, almost the entire network is overwhelmingly bullish, everyone is rushing to buy and chase high, as if 80,000 and 85,000 are easily within reach, but the market is always profitable for the minority. When retail investors are uniformly optimistic, it often marks the beginning of the main players' harvest.

This wave of market movement, the intentions of the big players are very clear: first force a short squeeze to hunt down and break the shorts, and to normalize the fee rate. Once the shorts are completely out and the market is left with only enthusiastic bulls, the real decline will begin.

Therefore, I firmly believe that the top of this round is in the 78,800–79,500 range. After clearing the liquidity above, the overall trend will turn downward. This is an excellent opportunity to position for a long-term short.