Right now, $BTC isn’t dropping because there are too many people shorting. The contract funding rate is deeply negative, and the market is overcrowded with shorts. A lot of retail investors are eager to short—classic signs of a short squeeze coming. On the weekly chart, it’s still in a bearish wedge adjustment structure. The previous sharp rise with big green candles was driven by large-scale buying. Early this morning, it retested the parallel high, broke below, then quickly recovered. Around 76.9k, there’s still big money supporting/absorbing the dip. We need to wait for a big red candle reversal, a break below the previous trendline, and for the funding rate to turn positive before a smooth drop can happen.