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Look at $PIPPIN, this wave of market movement is interesting. There's an angle worth pondering—after that big short position was set up with a liquidation price at 0.61, the price stubbornly rose to 0.76. Logically, it should have triggered a liquidation early on. But in reality, those short positions around the liquidation price instead collectively exited. It seems like a carefully planned setup by the bulls. From observation, this big short might actually be a bait—used to attract trend-following shorts to enter, then reverse at a critical point. The real goal might be to gradually drain liquidity and ultimately exhaust the entire coin. However, from the current market situation, the bulls are still in the accumulation phase, and the big show might still be ahead. The characteristic of this kind of setup is: it appears to be a trap set by the bears, but in fact, the bulls are the true hunters.