The advantage of shorting WTI on cryptocurrency platforms is that they can gain high leverage, but the disadvantage is the cost of funds. The advantage of short selling WTI by securities firms or traditional futures accounts is lower costs and prices that are closer to the real crude oil futures market, but the disadvantage is that leverage is not as high. If it is only a short-term game, such as judging that the risk premium in the Strait of Hormuz has been overvalued, then the advantage of cryptocurrency platforms lies in their flexibility, speed, and high leverage, making them suitable for a wave of emotional decline. But if it is a medium to long term judgment, such as believing that oil prices cannot stand above $120 or $130 in the long term, then securities firms or traditional futures accounts are actually more suitable. Especially in cryptocurrency platforms, once the funding rate continues to be high, even if the direction is ultimately judged correctly, it may be slowly worn down in the process. Placing the liquidation price around $138 is actually a very clever approach. Because the historical high price of WTI was around $147 in 2008. It is not easy to break through this historical high price. Because once oil prices enter the $120, $130, and $140 range, demand disruption will quickly occur, compressing aviation, shipping, chemical, and gasoline consumption. Rising inflation will force the central bank to become more hawkish, ultimately hitting the economy and crude oil demand in turn. In the latest survey, although analysts have raised their oil price forecasts, the average WTI price expectation for 2026 is only $80.07 per barrel, indicating that the mainstream benchmark scenario is still not a long-term breakthrough from historical highs. I always think it's okay to be bearish and short WTI, but there must be a higher liquidation price as a guarantee.