According to online reports, Coindesk analyst Oliver Knight said that although the Bitcoin trading price has exceeded US$110,000, approaching a record high, traders still showed bearish sentiment, and the long-short ratio dropped significantly, from 1.223 (long dominance) to 0.858 (short dominance). Data showed that short open interest contracts rose from US$32 billion to US$35 billion, indicating that funds flowing into bearish positions are increasing, reflecting the market's lack of confidence in the continued rise of Bitcoin. Currently, Bitcoin is still fluctuating in the range of US$100,000 to US$110,000. Technical indicators such as RSI show bearish divergences, and traders use short-term strategies to carry out arbitrage operations within this range. With the increase in short positions, there is also a potential bullish situation in the market: short squeeze. If Bitcoin breaks through historical highs and the forced liquidations and stop losses that trigger short positions are triggered, it could quickly push up buying pressure, pushing prices further.