The US Treasury buyback + White House crypto meeting, then the two pieces of news combined led to a leveraged liquidation ➤ The prolonged sideways movement made a lot of funds habitually short and sell CALLs around this area, only to get blown up by a macro positive + a crypto positive. But can this liquidation be seen as a landmark event signaling a bear-to-bull reversal? Personally, I remain cautious. There are quite a few people excited about the reversal—are we heading for a continuous rally? A high-multiple bull market? Maybe it's better to stay calm for now.