Recent market conditions are truly extreme and unprecedented. I looked at the short side, and a position of 5 billion USD is just stacked above, almost as if openly telling everyone that the big shorts are sharpening their knives, ready to break through. But in this extreme situation, the longs have been almost completely wiped out, those who should run are running, those who should be liquidated are being liquidated, and buy orders are almost impossible to find.

This is no longer a mere fluctuation; such a level of long-short imbalance has entered a state of extreme unilateral movement. The upcoming trend, frankly, boils down to two extremes. One is the 5 billion short position being directly crushed, triggering a chain of liquidations, with a large bullish candle rising sharply, and blood flowing in the short side. The other is the sell-off breaking through the last fragile support, causing the longs to become completely hopeless, leading to a waterfall decline.

In this market pattern, there's no more room for gentle fluctuations or sideways movement. Such an imbalance will definitely end in a very brutal way—either the shorts are completely uprooted, or the market plunges dramatically, with little room for buffer in between.