Bro, Bitcoin has surged back to 92,000, and the square is buzzing—some are shouting about the return of the bull market, while others are cursing the pump-and-dump scam. What's next? Let me sort out the key information from the past two days, and you'll see some clues.

First, let's talk about the event that triggered the market. The US geopolitical moves have recently seen some adjustments. At first glance, it seemed unrelated to the crypto world, but think about it—will oil prices fluctuate? Will inflation expectations rebound? How will the US dollar index move? These questions are enough to make high-leverage traders nervous.

So in the short term, the market scenario isn't just about sharp rises or falls, but about increased volatility. Those with high leverage, whether long or short, need to stay alert. This is when Bitcoin's true value comes into play—the safe-haven property of a non-sovereign asset. Although short-term prices are influenced by global risk sentiment swings, its long-term safe-haven status is becoming clearer.

Next is the second key point, which is also the real highlight. Why did Bitcoin rise specifically over the weekend? Because market participation and mechanisms differ during these times. Just look at the liquidation data—over the past 24 hours, the total market liquidation reached $190 million, with $158 million in short positions.

This isn't an orderly conquest; it's taking advantage of weaker market liquidity to hit those forced short positions one by one. The trading community calls this "short squeeze rebound," which basically means: at critical levels, large positions leverage liquidity and technical signals to trigger stop-loss orders of retail and small institutional traders.

In this process, two forces are at play—one is genuine concern over macro uncertainties, and the other is the game between market participants. The rational approach is to recognize that both forces are real. Short-term volatility will be high, but Bitcoin's long-term logic—the appeal of non-sovereign assets amid global liquidity issues—remains unchanged.

So rather than guessing the next direction, it's better to focus on managing risk exposure. In a high-volatility environment, survival is victory.