Looking at the recent market situation, the short squeeze is indeed quite intense. Bitcoin is currently around 77,000, and if it pushes up to 84,000, it’s estimated that over 2 billion USD in shorts could be wiped out. It feels like the short sellers have been almost completely cleared out. Conversely, if the price drops down to around 66,000, the bulls face greater risk, potentially facing over 6 billion USD in liquidation pressure.

My recent observation is that above 76,000, you need to be especially cautious. Many people see the rally and chase the high, but this level often signals a reversal. A few days ago, I saw several quick surges followed by sharp declines, so at this point, we still need to be careful and not get caught up in FOMO-driven chasing. It seems that 66,000 will be a relatively important support level, and how the market reacts then will still depend on the market’s performance.