After an astonishing 95% fall, a certain coin has recently experienced a sudden rebound, with a 24-hour rise of over 38%. It looks like a "dead cat bounce", but the market data suggests that a more complex game is taking place.

Retail investors are generally bearish and have placed a large number of short positions, while the big players are quietly accumulating shares. This situation has led to a significant decrease in the long-short ratio, while open interest has soared—this is often a signal that the main force is building strength. The main force is using short sellers' stop-loss liquidation orders to push up prices, creating a self-reinforcing logic of rise.

From a technical perspective, the 4-hour K-line shows a strong one-sided upward trend, and the MACD golden cross has also released significant bullish momentum. The combination of these indicators further intensifies the pressure on the bears.

Shorting at this position carries extremely high risks - the probability of being liquidated is increasing. It is crucial to be cautious when going against the market, and managing hedging orders and risk exposure is of utmost importance.