◆ 午間鏈上 Midday On-chain｜11-05
空頭擠壓主導，24小時清算1.49億美元中空單1.36億，槓桿擁擠在Short一側。BTC報80,414、24小時-0.11%，宏觀risk-on未傳導，驅動來自本地槓桿而非流動性。
Short squeeze dominated: of 149.07M in 24h liquidations, 136.36M was shorts, so leverage is crowded on the short side. BTC at 80,414, -0.11% in 24h, did not follow macro risk-on; the move came from local leverage, not liquidity.
空頭擠壓主導，24小時清算1.49億美元中空單1.36億，槓桿擁擠在Short一側。BTC報80,414、24小時-0.11%，宏觀risk-on未傳導，驅動來自本地槓桿而非流動性。
Short squeeze dominated: of 149.07M in 24h liquidations, 136.36M was shorts, so leverage is crowded on the short side. BTC at 80,414, -0.11% in 24h, did not follow macro risk-on; the move came from local leverage, not liquidity.
