$SIREN $SIREN Many people are confused about the numerous shorts in the market; why don't the big players push the price up to trigger a short squeeze? The core logic is simple: the big players themselves are long-term large-scale shorts. Spot holdings combined with contract long and short positions create a two-way holding, and a violent rally would directly cause huge losses for themselves. The market's real large opposing funds are retail traders around 0.05 who are bottom-fishing longs, and harvesting profits from these longs yields far more than liquidating scattered short-term shorts. Massive trapped sell pressure accumulates from 0.0575 to 0.064 above, with no channel for upward movement to offload, and the extremely high borrowing rate of 93.7% can trigger new shorts at any time. The sideways consolidation continues to earn long fee rates, waiting for the longs to reach a certain scale before concentrating selling pressure. This is the operation that maximizes the big players' profits; pushing the price up to trigger a short squeeze completely does not align with their own interests.