Is a $1.5 billion liquidation "bullish fuel" or a "risk warning"?

Liquidation sounds like a disaster, but it’s actually more like fuel. A potential liquidation scale of over $1.5 billion means the market is filled with a "powder keg." As soon as a spark (breakout) occurs, prices may be forced higher—short covering creates buying pressure, liquidity is squeezed in the short term, and the market is like being pulled back by a slingshot.
But don’t forget, fuel burns quickly and cools just as fast. If the breakout lacks follow-up in the spot market and only the futures market is hyping up, then the pullback after the surge can be just as rapid. History has shown multiple times that rallies driven purely by liquidations often come fast and go quickly.
From a market structure perspective, if futures open interest and open contracts expand in tandem, it indicates high participant sentiment; if trading volume doesn’t effectively increase, it may just be "sentiment squeezing." Smart money usually doesn’t jump in at the hottest moment but gradually positions itself when sentiment cools.
Humorously, liquidation is like the market’s "automatic slimming plan": those with too much leverage get cut down, while healthy positions keep running. For ordinary investors, instead of dreaming of becoming a "liquidation beneficiary," it’s better to avoid becoming "liquidation fodder."
So the question isn’t "Will it go up," but "If it does, can you hold on?"#比特币反弹