#数字货币市场洞察 In the past 4 hours, $44.61 million worth of ETH short positions were liquidated—this isn’t market panic; to put it plainly, it’s fuel for the next round of gains.

What do people who truly understand the market focus on? It’s not the candlestick charts, but the underlying logic. Such a large volume of shorts being wiped out at once, combined with on-chain data showing signs of capital inflow, makes the answer pretty clear: those old-school shorts clinging to high leverage are being systematically cleared out.

Every round of large-scale liquidations like this is essentially doing the same thing—clearing out chips for the next price surge. The market is simply rotating hands in the most direct way possible. Our team’s internal discussions last week repeatedly validated this judgment, and now it’s becoming reality bit by bit: sharp drops are not traps—they’re opportunities.

Those giant short positions that got blown out? They’re the best material to lay the foundation for the next rally. Sure, there’s some short-term panic in sentiment, but the real big money (those Smart Money addresses) are acting honestly on-chain—their holdings remain untouched, and they’re even quietly adding more.

Don’t forget, bull markets are never a straight line. It’s always a process of “short squeeze → rally → consolidation → another short squeeze,” stacking upward step by step. Right now, we’re standing on a new step.

My view hasn’t changed: every pullback is a window to build positions; the script for the main upward wave has already been written. The market always rewards those who understand the data and can stay calm during panic. Be prepared—the real action is just getting started.