Earlier I said, "The current rebound will peak at 66k (at most 67.5k)," and someone asked why. Because this rebound is driven by short covering, not by long buying. The following characteristics have emerged: 1. The funding rate was negative at the lowest point, indicating a surge in short sellers and leading to a V-shaped reversal. 2. Open interest decreased, with short sellers actively covering their positions. 3. The spot CVD is basically flat, indicating that even at this low level, no one is buying spot, as everyone expects it hasn't bottomed out yet. This rebound driven by short covering is a one-off, weak rebound. Once the fuel for short covering runs out, it can't rise further, which is the current situation. Unlike a rebound driven by long buying, which could potentially continue indefinitely or even reverse the trend. :)