$CASHCAT went from bad to genuinely brutal. two days ago longs were down 34% and still grinding, paying funding to stay in. now it's down 47% total and volume just printed $77M against an $11M open interest book. that's seven times the entire position size trading hands in a day.
that ratio is the real story here. it means this isn't longs quietly bleeding out anymore, it's forced liquidations cascading through a book too thin to absorb them. every leveraged long still standing from chapter one either got wiped or is one wick away from it, and funding is still positive, meaning whoever's left is still paying to hold a bag that's down almost half.
on the radar 41h and 13 scans later, this is the same fight, just with way less blood left to spill. thin liquidity plus a squeeze this deep is how microcaps turn into dust.
NFA 💀
that ratio is the real story here. it means this isn't longs quietly bleeding out anymore, it's forced liquidations cascading through a book too thin to absorb them. every leveraged long still standing from chapter one either got wiped or is one wick away from it, and funding is still positive, meaning whoever's left is still paying to hold a bag that's down almost half.
on the radar 41h and 13 scans later, this is the same fight, just with way less blood left to spill. thin liquidity plus a squeeze this deep is how microcaps turn into dust.
NFA 💀