The bulls are back! Shoutout to the bros lurking at Meituan, Ele.me, and McDonald's! Recently, traditional media has been flooding us with headlines like 'Bitcoin enters a bear market' and 'ETF investors suffer across the board.' But based on historical patterns: when mainstream sentiment is unanimously bearish, it's super common to see a short-term reflexive upward move. Last night, a massive amount of shorts got liquidated—$220M wiped out in 24 hours. So, last night's breakout was likely due to a huge accumulation of short positions in the 88–90K range, triggering a chain reaction of stop-losses and liquidations after breaking 89K. Of course, ETF inflows also played a big role. Bitcoin spot ETFs saw a total net inflow of about $129M yesterday, with FBTC leading the pack—single-day net inflow hitting around $171M. Next, the key focus will be whether ETF inflows can sustain the momentum now that the short squeeze has lost steam, and whether MicroStrategy can drop some good news. As long as market sentiment stays steady, a lot of projects will seize the chance to TGE and pump the market!