Odaily Planet Daily News Coindesk analyst Oliver Knight said that although the price of Bitcoin has exceeded $110,000 and is close to its all-time high, traders are still bearish, and the long-short ratio has dropped significantly, from 1.223 (longs dominate) to 0.858 (shorts dominate). Data shows that short open interest has risen from $32 billion to $35 billion, indicating that funds flowing into bearish positions are increasing, reflecting the market's lack of confidence in the continued rise of Bitcoin. At present, Bitcoin is still fluctuating in the range of $100,000 to $110,000. Technical indicators such as RSI show bearish divergences, and traders use short-term strategies in this range for arbitrage operations. With the increase in short positions, there is also a potential bullish scenario in the market: short squeeze. If Bitcoin breaks through its historical highs, triggering the forced liquidation point and stop loss of shorts, it may quickly push up buying pressure, thereby driving prices further up. (CoinDesk)