In this round of the market, Pippin, the surface seems calm, but deep currents are surging. The key is not how the K-line moves, but how much the funding rate has been harvested.

Under the pattern of accumulated short positions, the main force has no motivation to push hard in the short term. Compared to a vigorous rally, the most profitable is actually the boring sideways movement—trading time for space, slowly eating away at the time fee rate to generate profit. That previous surge? Essentially, it was to drive away retail traders' positions following the trend. Once the capacity to absorb orders diminishes, it immediately switches to a rate harvesting mode.

The various big account share screenshots you’re flooding the screen with now? They look glamorous, but in reality, they hide mines. History repeatedly confirms the same truth: those who publicly expose their positions often end up liquidated or forced to admit defeat and flee. This time, it’s highly likely that the same fate awaits.

In the end, trading mastery is not about courage, but about the details of position management. Don’t let yourself become an obvious target, and never underestimate the destructive power of the funding rate and the cost of being targeted. Survive and come out alive, then you have the capital to participate in the next opportunity. Keep a close eye on the market rhythm, but always remember: low profile is the best strategy.