$SIREN has become the “Grim Reaper,” and the market has begun a new round of liquidation. In just a few minutes, a large number of short sellers were forcibly liquidated. This wave of increase is essentially the main force accumulating positions at low levels, attracting bottom-fishing funds to enter the market by driving prices up, deliberately creating the illusion of an impending surge.
However, from the movements of smart money and on-chain data, it appears that the main force has actually been quietly offloading. This is just a typical “dog fund” old trick—repeatedly harvesting, killing both longs and shorts, and trading back and forth for chips.
The overall mindset remains bearish, and one should avoid blindly chasing longs. The price increase resembles a trap for longs, enticing retail investors to take over, and the market could turn around and drop at any time, potentially leading to a rapid collapse.