On October 11th, after hundreds of billions were liquidated, many people rushed to add positions in hopes of recovering their losses. As a result, the dog whales targeted these traders and started killing them, leading to a continuous liquidation for a month. Only then did the market gradually calm down. Still the same advice: short on rallies, prefer to stay in cash and watch rather than go long; the probability of success with a high short position is a bit higher.

Although Bitcoin experienced a rally in the first half of the month, it was clear that the bears remained quite rational and didn't get many short positions liquidated. Today, Bitcoin dropped 3000 points on the back of tariff-related negative news, and the bulls were severely beaten again. The market saw a liquidation of 900 million, with 800 million of that from long positions. Moving forward, the dog whales will definitely continue to target whichever side offers the greater profit. I plan to wait until the price reaches 9.44 to open a short position, and once the liquidity diminishes after the drop, they will continue to push down, trapping those trying to buy the dip halfway up the mountain.