Why I Took a Short Position: Despite the recent wave of bullish headlines — stablecoin expansion, corporations adding Bitcoin to their treasuries — the broader market remains starved of real liquidity. Only assets directly mentioned in these narratives are seeing price appreciation. This suggests we are not witnessing a broad-based revaluation, but rather speculative capital rotating into headlines, not fundamentals. When liquidity does not confirm the narrative, the rally is fragile. In my view, this is a classic setup where price overshoots on speculation, not substance — and that creates opportunity on the short side.