According to CoinMeta, analyst coinspectator suggests that the rise in Bitcoin prices is not merely due to short-term congestion. He observed that many posts claim that once the short-term congestion ends, prices will collapse or lose momentum, but the grid trading robots he ran during that period showed a different trend. He pointed out that liquidation events usually occur when Bitcoin prices reach “psychological levels,” and in the past two days, despite most of the liquidations, prices have continued to rise. He believes this indicates that there is actual interest in buying at current prices from the market, rather than just short-term speculative behavior.