Just finished reviewing the market data and tracked a few major capital flow lines. This situation is really interesting.

What exactly is behind PEPE's movement today? Let's start from the news perspective. When the market rebounds, how many people start shouting that the bull run is back—this rhythm is very familiar. Data monitoring from certain leading exchanges shows that those professional shorts have already earned 81 million this year, and this is definitely not just luck.

**This is a systematic harvest of retail investor sentiment.**

I've always believed: the bull market is often just an illusion for most people, while the bear market is the true return of the market's reality. The operations of these big funds perfectly verify this— the more the market FOMO is狂热, the more resolutely they short. When you chase PEPE, they are shorting PEPE; when you rush into LIT, they are still putting on short positions.

An even more extreme example is those "multi-arm whale" traders, some of whom lost over 40 million due to betting mistakes. This is not a technical contest; frankly, it's a complete cognitive domination.

**The key issue is: most retail investors have no idea what they are doing.**

People say they are trading, but in reality, they are just spending money to experience an emotional rollercoaster. Others study candlestick patterns and volume, while you stare at the screen watching red and green; others carefully calculate position sizes and risk ratios, but you are just chasing news around the market; you hope to break even by holding on blindly, while they have already precisely calculated at which price level to wait for your entry.

In the end, most trading is just using the "trading" label to consume heartbeats over and over again.