Last night's market was incredibly exciting. BTC suddenly broke through $90,000, with the total market cap soaring to $1.8 trillion, and the entire community was hyped. But what happened next? The market sharply reversed, and the sounds of liquidations flooded the entire network. But what’s truly worth警惕 isn’t just this painful long upper shadow candlestick, but more terrifying are those seemingly solid "bullish signals"—they might have been premeditated and laid out long ago.

It took only a few minutes to pump, but only seconds to dump. This isn’t really a breakout; it’s more like a carefully orchestrated liquidity hunt. Retail traders see the price soaring, funding rates hitting a two-month high, and open interest skyrocketing by $1 billion, and they think the market is about to take off. But in reality? That’s precisely a sign of a trap.

Careful analysis of the data reveals more suspicious signs. What does continuous net outflow from ETFs indicate? Smart money (large institutions) is taking the opportunity to exit, not enter. Yet, the Fear & Greed Index is only at 25, and market sentiment is still stuck in fear—where’s the bullish consensus? But futures data tell a different story—funding rates hitting new highs, open interest exploding—this shows retail traders are frantically leveraging up to go long. Institutions are quietly retreating, while retail traders are still chasing aggressively. How dangerous is this divergence?

The rules of the market are brutal. Whales exploit periods of low trading volume, using limited funds to quickly pump the market, creating a false breakout illusion. Retail traders see "perfect technicals"—high funding rates, increasing positions—FOMO kicks in, leverage is added, and they become lambs waiting to be slaughtered. Then the whales reverse and dump, harvesting all they can. Those so-called "bullish signals" seem to guide you, but in fact, they’ve long been tools used by others. This is the most raw reality of the crypto market.