Bitcoin (BTC) surged so happily in April, thinking the bull market was returning quickly? Wrong! Today, I'll strip it down to its core: this big brother looks muscular, but it's actually all built on "leverage hormones" (contract demand) forcing it up! The real "big boss" (spot buyers) have long since hidden their wallets and disappeared! What does this mean? It means there's no real gold and silver entering the market now, just a bunch of gamblers borrowing money to go all-in at high leverage! This kind of prosperity built on "IOUs" is entirely虚假的 (fake). When these gamblers can't hold on and start to retreat (close positions), it will trigger a chain avalanche, directly creating a huge hole! This terrifying scene is exactly the same as at the start of the 2022 bear market! So, brothers, this fully confirms what the big boss previously told you: Bitcoin is now seriously虚胖 (overinflated), and it must deeply "squat" to the critical level of $59k, grind through a solid half-year to rebuild the foundation, and only then can it truly take off!