Against the backdrop of US non-farm payroll data falling below expectations, the market fee mechanism has instead become the new focus. High fees seem to encourage traders to establish long positions, but in reality, they are just a carefully designed game of catching the bag—exchanges and large traders arbitrage through fee differentials. Observing recent trends, it's not hard to see that the big players' high-level short positions remain almost unchanged, while unlocked tokens are continuously pushed up to unload. This perfectly coordinated rhythm attracts more and more retail traders to go long and take on the chips. When the timing is right, a straight line pierces through the support level, causing longs to instantly liquidate, while shorts easily take profits at the bottom by re-entering long positions. Although this logic may seem ruthless, it is a reality that market participants need to understand.