$BEAT The trend shows that the fee discount has always favored the bulls! But this wave of sharp movements cannot be understood as the dog whales being friendly to both the bulls and the bears on the same screen. The dog whales leverage the strong short positions, with the price and long positions at high levels, choosing to wipe out the longs with a long squeeze. The reasons are:

A. Because the dog whales want to use the long positions' money to build a bottom, short but benefit from fee discounts and support the short side.

B. Because the dog whales' opponents added large short positions, so after pulling the price down, the dog whales and the whales counterattacked.

C. Actually, it's not likely that the dog whales are controlling both sides; they might be manipulating the market, shaking out and clearing out positions to hedge and take away longs and shorts.