CRCL I’m speechless. This leg down has been carried out so convincingly—prices sliding lower one after another, and it can’t lift even a decent rebound. Meanwhile, the open interest keeps piling up thicker and thicker. This isn’t a shakeout; it’s the shorts using the sell-off to enter and build positions, with all the chips transferred onto empty hands. The bottom of this chart has already been stripped clean by the open interest. The bulls are still there eating costs and stubbornly shouldering the fees. Those few 4-hour candlesticks are one weaker than the next. In my view, this market is just rotating in a new set of people to keep dumping. Anyone who rushes in to “bottom fish” now is basically bringing dinner to the dog-like manipulators. This time the tuition has to be paid—until it’s broken bones kind of painful.