At 03:15~04:00 in the morning, BTC experienced concentrated short clearing, but there was no regular pullback, and the market showed a "double short squeeze" structure: ·$231 million limit sell order vs $141 million market buy order, contract OI reduced by 836.5 BTC, short selling+long short turnover ·The main market price of spot goods is $32.54 million, and the relay price is pushed up Market structure: Short positions liquidated → Contract turnover → Spot relay → Price continues to rise, double squeeze completed. Currently, the contract OI is slowly rising, but the price increase has stagnated, with both long positions and short positions suppressing prices. Pursuing long positions requires vigilance against the risk of reversal. The data is sourced from PRO's "Main Large Order Tracking" and "Large Transaction" indicators, for reference only.