Today's accelerating K-line should be the largest entity since 2021. Currently, the increase is approaching $7000. After this acceleration, the high-leverage shorts have basically been largely liquidated, and the remaining liquidations will be some low-leverage shorts. Obviously, the fuel is not as sufficient now. To continue rising, it will have to rely on new incremental funds from outside the circle to keep buying. In other words, the first wave of acceleration has come to an end.

Additionally, according to past logic, bull markets often experience flash crashes. The reason is simple: there are too many bulls, and a liquidation is needed. So let's take a brief look at the liquidation map. In the past 7 days, the liquidation volume of long positions accumulated above $80,000 has exceeded $1 billion, and above $70,000 it has reached as high as $5 billion. Therefore, a liquidation wave is necessary. As for when it will happen, no one knows. I mention this not for any other reason but to remind everyone to be aware of the risks, not to get too heated, and to patiently wait for the next opportunity to get in.