Why hasn't Bitcoin corrected and instead continues to rise?

Some say that since it has reached 100,000, it won't easily correct.

Indeed, since the last bull market, some have been calling for 100,000 or even 500,000. After finally breaking through 100,000, a downturn isn't likely to occur easily. However, I would like to share a slight outsider perspective, and if everyone agrees, take a look; if not, just consider I didn't say anything.

Bitcoin broke through 100,000 on December 5 to 104,630, then spiked to 90,200, closing at 97,000, with a price difference of nearly 15,000 USD. I also noticed this when posting. After breaking 100,000, it was clear that a new batch of newcomers entered the crypto space. Newcomers, who know nothing, jumped in with high leverage to join the bullish camp. Subsequently, the market spiked to 90,200 and closed at 97,000, performing the first wave of harvesting against the bulls.

But the fearless young calf fears no tiger; you rise, I chase the rise; you fall, I chase the fall. At worst, I’ll just open lower leverage. So many chose to open low leverage short positions at 97,500-98,000. When the price rose, they held firm, betting that it would drop.

However, things did not go as expected. Bitcoin not only remained high but also slowly rose. At this time, closing positions felt reluctant, and holding onto them was unsustainable. A small position exploded at 103,000, and a general position exploded at 107,000. Currently, there are still some old shorts and large positions holding on.

I say all this just to remind everyone that regarding finance, whether it's the A-share market or the crypto space, you need to have awareness. The essence is simply to reap profits. Recognize the essence, choose the right camp, and know when to stop; only then do you have the chance to grow step by step in the crypto space. If you don't hit a wall, you won't turn back, and the only outcome is zero.

What I mentioned above is just my personal opinion; if you don't like it, please don't criticize. However, as the shorts are being taken down one by one, there will soon be some news to showcase. Although the Mentougou news doesn't have much impact anymore, there have been frequent outflows of Bitcoin recently, basically one or two thousand coins every day. Is this a foreshadowing? So leverage trading must be cautious, and stop-loss measures must be in place.