Double short squeeze: This wave of BTC in the early morning is not an ordinary short squeeze. From 03:15 to 04:00, BTC short positions were centrally cleared. According to the usual script, after a sudden surge, the stock should fall back, but this time it's different ： ·Main limit funds: $231 million sell order vs $73.2 million buy order ·Market price main funds: $141 million buy orders vs $48.27 million sell orders Contract OI decreased by 836.5 BTC, resulting in short selling and long short turnover. More importantly, the main force of spot goods has started to relay, with a market price of $32.54 million. So, this market trend followed a structure: short positions were liquidated → contract liquidation and turnover → spot relay → price continued to push, completing the double short squeeze. Now: The contract OI is slowly rising, but the price remains unchanged. Either bulls are building positions, or the air force is lowering prices. Regardless of the type, those who chase too many should be careful in this position.