The total open leverage across the entire network for the two coins has already exceeded $25.7 billion.

This number alone indicates one thing:

The market does not move in a straight line.

The more leverage there is,
the greater the volatility.

Because volatility
is the most stable profit source for institutions.

Repeated pulls,
repeated oscillations,

are not for direction,

but for chips.

Wearing down patience,
breaking emotional resilience,
shrinking positions,

to shake you out.

When most people no longer want to watch the market,

it often only takes a few days

for the market to return to high levels.

When the price returns to high levels,

retail investors begin to doubt:

Is this a bull rebound
or a short squeeze?

In this kind of hesitation,

the market
will step onto a higher stage.

Then,

newcomers rush in,

old chips exit.

This has never been about the trend,

it's a cycle.

Newcomers fill old gaps.

Wall Street has never had anything new.